TNT makes a fourth quarter loss

Just five days after TNT rejected a €4.9bn (£4.1bn) bid by rival UPS, the Dutch-based logistics giant has revealed it dipped into the red in 2011.

TNT unvieled a Q4 operating loss of €104m, contibuting to the vast majority of a €105m operating loss for financial year 2011. The company primarily blamed issues in Brazil for the losses.

However Q4 revenue rose to €1.87bn, from €1.83bn in the same quarter a year ago. For the full financial year revenue was also up, from €7bn in 2010 to €7.2bn in 2011.

As a result TNT's share price fell to €9.88. UPS' unsolicited offer of €9 per share was rejected by TNT on 17 February.

The company says it is now targeting new B2B services for growth.

CEO Marie-Christine Lombard says: “We have ample opportunity to grow, not only in our traditional B2B segments, but also in new services, such as PharmaSafe for the health-care sector or pan-European B2B deliveries for high-value goods.”