TPG NV PROJECTS SLOWER PROFIT GROWTH IN 2002
TPG NV, the Dutch logistics company, has warned investors that profit growth in 2002 would only rise by 5 to 10 percent.
TPG said its net income from continuing operations last year rose 21 percent to 555 million euros ($483 million) in 2001, above analysts’ estimates of 551 million euros.
The slower growth predicted for 2002 was due to an economic downturn that had especially hurt its Express unit, TPG said.
TPG, based in Amsterdam, operates under unit names TNT and CTI Logistx.