Dutch logistics group TNT reported a 20 per cent drop in its fourth-quarter operating profit, dragged down by its mail unit, but beat forecasts as its restructuring efforts started to bear fruit. TNT reported earnings before interest and tax (Ebit) of €128 million (Dh639.8m) on revenue of €2.98 billion in the fourth quarter. Analysts had expected Ebit of €113m on revenue of €2.86bn. Like larger rival Deutsche Post, TNT has been struggling to cope with falling demand.
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