TNT’s Profit More Than Doubles

Dutch postal company TNT NV said Thursday its first-quarter profit more than doubled from a year ago to $582 million, the Associated Press reported.

The gain was due in part to a $266 million gain from the sale of its freight operations to French logistics firm Geodis, AP said.

Sales rose 9.5% to $3.66 billion, due mostly to strong growth at TNT’s global express mail operations, AP reported.

TNT sold its TNT Logistics unit last year to Apollo management for $1.9 billion, which changed the logistics unit’s name to Ceva Logistics, which is ranked No. 12 on the Transport Topics Logistics 50 listing of U.S. and Canadian logistics firms.