Turnover growth in Norbert Dentressangle's transport division slowed to 63% for the first nine months of 2008 after the group reduced its vehicle fleet ahead of the economic slowdown. In June the firm reported growth of 66% in sales.
The French logistics company says the global credit crisis will hamper its full-year performance and will slow efforts to improve its UK transport business, which is being restructured.
The international situation will also mean its attempts to overhaul the Christian Salvesen business it bought in 2007 will be impeded.
Group revenue rose by 81% when the integration of Christian Salvesen was included for the period to the end of September and the sell-off of four logistics sites in the third quarter raised €20m in pre-tax net proceeds.
The group says the sales will help it "achieve higher flexibility and leaner operations" and reduce net debt by €45m. It will also boost its operating income on 2007's €79.8m. Norbert Dentressangle expects full-year like-for-like revenue to be up 5% on 2007's pro-forma figures.
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