Postal and Express company TNT posted a 16.7 percent rise in second-quarter net profit, and said it will slightly revise its 2007 financial targets, on top of more share buybacks.

TNT said net profit came in at US$334.45 million, up from $286.47 million a year earlier, boosted in part due to cost cuts.

TNT said the operating margin target at the mail unit has been raised to 17.5 percent, up from 17 percent, and that it expects full year revenue at the European mail network unit between 30 to 35% percent, with a slightly lower margin.

TNT still expects 15 percent revenue growth at the express unit for the full year and an operating margin in the nie to 10 percent range.

TNT also said it would launch a $685.35 million share buyback programme, which is due to be completed by the middle of 2008.