PostNL, a Dutch postal delivery company, increased deliveries 3 percent during the first quarter of 2020, thanks to a sharp increase in March as consumers moved quickly to online purchases. The company delivered 11 percent more packages in March 2020 compared to last year. At the same time, the volume of letter items dropped 12 percent. PostNL claims its disciplined work capital management contributed to improving the free flow of money. First quarter turnover rose from €684m to €701m while earnings, excluding one-offs, were halved to €15m following the merger with Sandd. It integration with Sandd is running ahead of plan in delivering anticipated benefits and synergies.
