News

Haulage giant TDG gave its shareholders a modest amount of pre-Christmas cheer this week when it announced its performance in 2007 had seen good progress, and was in line with expectations. TDG, which had a turnover of £531million in 2006, says it won more new business in 2007 than the year before with "most of the growth delivered by our chemicals division". The company's strategy is to develop business in specialised sectors rather than traditional retail, partly because the profit margins in  specialist sectors such as chemicals or paper and packing are usually higher.

Its expansion in such areas included the purchase for £20.1million in February of Dorman, which has now been integrated into TDG's chemicals division. The statement adds that the UK chemicals business also performed well in 2007, "despite lower volumes". The first six months of 2007, which TDG reported in August, saw turnover up 26% to £319million but pre-tax profits fell to £4.4million, compared with £5.7million in 2006. Official preliminary results for the whole of 2007 will be announced on 27 February.