Christian Salvesen’s final set of results as an independent business show a boost in profit. The company posted a 16% rise in underlying pre-tax profits, to £7.2m, for the half year to September, ahead of Norbert Dentressangle’s £254m buyout. The European Commission is expected to give the go-ahead for the deal later this week.
Salvesen believes its UK transport operation benefited from a turnaround plan put in place earlier in the year, including new systems to increase productivity, more
investment in new purpose-built sites, an improved fleet and modified pricing. The results were boosted by Salvesen renewing with several existing customers such as Marks and Spencer and Birds Eye.
A Salvesen spokesman says the acquisition by the French transport firm has been “welcomed by employees and customers alike. There is a strong strategic fit between the two companies: our operations are complementary and there is limited overlap. Together, we will make a stronger operation spanning 13 countries and providing an expanded range of services across a wider geographical area.”
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