TNT, the Dutch mail and express delivery service, has announced plans to sell its freight management division. 

The decision comes as the group unveiled better-than-expected Q3 results, which showed sales of €2.395bn, an increase of 9% on 2005. Profits from its continuing operations were also up 5% to €169m.

In a statement, chief executive Peter Bakker said that the group would now be focusing on the growth opportunities in its core activities of mail and express network distribution, and that initial exploration had shown “strong interest” in the freight management division. 

Earlier this year, TNT sold its logistics division to US-based private equity firm Apollo Management for £1bn. 

TNT Freight Management originates from Wilson Logistics, which was acquired by TNT in 2004. It employs 2,300 people in 28 countries and annual revenue is around €800m.