TPG CONTINUES ITS BALANCED GROWTH

摘要

During the first quarter of 2004, TPG reported its total revenues were up 2.8% to EUD 2.98 billion (US$3.54 billion) while net income during the period increased 16.4% to EUD 163 million (US$193.4 million). As in previous quarters, the revenue total was split fairly evenly among the company's three divisions, although, as can be seen from the earnings section of the chart at right, TPG's mail operations were by far the most profitable. TPG's Mail division recorded a 1.9% decrease in total operating revenues to EUD 980 million (US$ 1.16 billion) during the period. Mail revenues fell during the quarter due to lower Netherlands and cross border volumes, offset to some extent by further significant organic expansion of the European Mail Networks. Organic revenue declined 1.7% while negative foreign exchange effects led to a decline of 0.2%.