Norbert Dentressangle Group (ND) says a "sharp slowdown" in its transport division at the end of 2008 hit its UK operations particularly hard.
In its trading statement for 2008, ND says: "The logistics division, with 7% organic growth, reached its target, while the transport division saw a sharp slowdown in business in the last two months of the year, in particular in the UK."
In its statement, the company said
it had been impacted by the sharp drop in sterling against the euro.
Group revenue at ND rose 72% to €3.1bn (£2.8bn) in 2008, mainly due to the full-year consolidation of the Christian Salvesen business, which it bought in December 2007. Like-for-like growth for the year in its transport division was 2.8%.
However, the group has cut its forecast for 2008 operating profit to €75m (£67.6m) from just under €91m (£82.1m) due to the "business slowdown".
ND will reveal its results in full at the end of March.
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