Norbert Dentressangle (ND) has unveiled a strong performance in its 2008 results, with turnover and operating profit both up - rising to €3.1bn and €78.9m respectively.
Despite this, the French transport and logistics giant acknowledges that there have been considerable problems within its UK transport operation
which severely impacted the division's operating profit, adding: "Recurring operating profit fell by 7% owing to the very poor performance of the Christian Salvesen transport activities in the UK, the associated restructuring costs [from last year's depot closures] and the slowdown in activity in the last quarter."
The company reduced its head-count across Europe in the transport division by 10% or 1,500 people and 800 trucks last year.
Hervé Montjotin, executive vice-president for the ND Group, says that its logistics operations have performed well: "For the group, 2008 was a rather satisfactory year because we succeeded in integrating the Salvesen business successfully by the end of the first half of the year.
"The logistics business has performed well while the transport division was impacted by strong downturn in the last quarter."
He
says that the transport division will see a turnover reduction of about 15% in 2009 with the logistics division falling by around 2%-3%. However, Montjotin stresses that ND's transport business has declined less sharply than the overall market which has fallen by 20%.
Reed Business Information Limited.©2009
