PostNL slumps to Q1 loss on TNT Express writedown

AMSTERDAM Tue May 7, 2013 1:45am EDT

AMSTERDAM May 7 (Reuters) - Dutch mail group PostNL on Tuesday reported a first-quarter loss of 410 million euros ($535.3 million) after a 440 million euro writedown on its stake in express delivery group TNT Express .

PostNL made a profit of 633 million euros in the same period last year.

First-quarter operating income, excluding pension payments and currency effects fell 27 percent to 82 million euros.