GEFCO UK says the closure of parent company Peugeot's car factory in Coventry has affected its profits. The firm's directors say: "Notwithstanding the increase in external sales and stringent cost control, profitability declined as a result of the reduction in automotive distribution volumes and the revenue and cost impacts of the closure of the Peugeot Ryton plant in December 2006."
GEFCO's pre-tax profit fell to £3.9m for the year to December 2006, from £8.9m in 2005. Operating profit
also dropped to £3.9m in 2006, from £7.9m the previous year. But turnover for 2006 climbed to £124m from £121m.
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