TNT reported a €556 million ($700 million) profit in 2008, down 43.6% from the €986 million earned in 2007 as the air cargo market continued to deteriorate and the company took a €70 million one-time charge related to job and fleet cuts in its Express division. It said those reductions will result in €51 million in savings this year, part of a €400 million cost-cutting effort. Group revenue rose 1.2% year-over-year to €11.15 billion and operating income ...

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