Express delivery company TNT's revenue in Hungary increased 24% to Ft 9.8 billion in 2005, beating the market's 10%-15% expansion during the period, TNT Express Worldwide Hungary Kft's managing director Márton Jánosi Jr. announced yesterday.
Jánosi did not disclose the company's profit, but said pre-tax profit was in line with the industry average of 10% of revenue. In 2006, TNT targets a 20%-30% increase in revenue.
TNT spent Ft 320 million on developments in Hungary in 2005, including Ft 100 million spent to raise the number of vehicles in its fleet 10% to 120 and Ft 130 million on IT developments. In 2006, the company plans to spend Ft 344 million on investments, including Ft 70 million to expand its logistics center in Budapest by 6,500 square meter, Ft 120 million on IT developments and infrastructure and Ft 154 million on new vehicles. TNT has also set aside Ft 290 million to build a base at a long-delayed cargo terminal at Budapest's Ferihegy airport.
TNT leads Hungary's express delivery market, with a 35%-40% share.