Press Release


TPG General Meeting of Shareholders

Publish Date : 6 May 1999 at 08:59 CET - Mr. A.J. Scheepbouwer, Chairman of the Board of Management of TNT Post Group N.V. (TPG), will give details of the company's 1998 results at the General Meeting of Shareholders in Amsterdam.

Developments during the first months of 1999 will also be addressed.

Mail activities have developed favourably in terms of volumes and sales. The introduction of new sorting machinery and training of staff has taken longer then expected. This has effected service quality and has lead to increased costs. On balance, however, developments in Mail are as expected.

As a result of disappointing economic growth, Express activities in Europe are lagging behind expectations in terms of volumes and sales. This has resulted in pressure on the margin. Outside Europe, Express activities are developing as expected.

Growth and margin development in Logistics are satisfactory.

In the light of the above developments, TPG is taking specific measures to improve sales and reduce costs.

For 1999 the Board of Management therefore continues to expect a net income growth within the 10 percent to 15 percent range, fully in line with the announcement made on the publication of the annual figures on 22 March 1999.

Page publication date: 6 May 1999 at 08:59 CET