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Wed 9 Sep 2009 07:37 AM

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TNT Mideast chiefs see H1 growth in revenues

Express delivery firm says Middle East operations performing better than expected.

TNT Mideast chiefs see H1 growth in revenues
BUSINESS BOOST: TNT has seen a growth in revenues in the first half of the year for its Middle East operations.

International express delivery firm TNT has said that revenue growth in the first half of 2009 has exceeded expectations in the Middle East, driven by a surge of inter-GCC business.

TNT Express Country general manager Bryan Moulds said the company had seen growth "ahead of management expectations", much of it due to outbound business from the UAE to Saudi Arabia, Qatar and Kuwait, without giving specific figures.

The company was also preparing to expand its Middle East Road Network, with more day definite services to Syria, Lebanon and Jordan, Moulds added.

Further investment in a daily freight uplift from Germany, the largest European market, has seen clients increasing the share of spend they give to TNT, he said.

Much of TNT's regional strength comes from the UAE which acts as a shipping, storage and redistribution hub for major corporate clients, including Daimler and Volvo.

And TNT said it was confident that further growth would be seen in the second half of the year.

Moulds said: "Like everyone else in the world we braced ourselves for a hit this year, but we are glad to say it never came. Traditionally logistics like any other service provider is one of the first to be reviewed but it seems that stable volumes combined with a few great contract wins, have kept us on our growth trend in the region."

TNT Express in the UAE was recently awarded a two year contract worth over AED6 million per year by Volvo Middle East to provideexpress road and air distribution across the region.

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