AMSTERDAM – Dutch mail delivery group TNT Express , whose $7 billion takeover by United Parcel Service was blocked last month by European anti-trust regulators, reported a fourth-quarter loss on Monday.
The collapse of the UPS takeover after a year of merger negotiations means TNT Express is once again forced to confront a weak European market and come up with a new standalone strategy.
"There are many positive actions we can take to improve profitability and we look forward to providing a full update on 25 March," Bernard Bot, interim chief executive, said in a statement.
He also said the company was looking to make disposals abroad.
"Divestment opportunities for our domestic activities in Brazil and China are being secured," he said, adding that the outcome for China would be known soon.
TNT Express reported a net loss for the final quarter of 2012 of 148 million euros ($197.59 million), down from a loss of 173 million euros a year ago on flat revenue of 1.86 billion euros.
Analysts in a poll commissioned by Reuters had on average forecast a net profit of 32.2 million euros on revenue of 1.886 billion euros.
(Reporting by Sara Webb; Editing by Greg Mahlich)