News

European automotive logistics supplier AutoLogic made a smaller pre-tax profit last year despite an increase in turnover; it cites relocation expenses and the falling dollar as reasons. Pre-tax profit fell 8.7% to £6.3m while turnover rose by 4.4% to £254.7m. The company has spent the past year restructuring and chairman Neil Johnson says: "With the difficulties of the recent past behind us, we are fully focused on further improving the profitability of our core businesses and also believe there  are a number of medium-term opportunities open to us.

"Initiatives implemented over the past year are now delivering results - we are confident that with a restructured business and a strengthened balance sheet, we can build on these achievements."

In 2006 AutoLogic sold its Walon France business and its Spanish freehold property, reducing its debt by £10.2m to £30.4m.