Forwarding boosts Geodis figures
26 / 02 / 2008
GEODIS reported record high revenue and earnings for 2007 with a 5.4 per cent increase in revenue.
Freight forwarding revenue doubled during the year, lifted by the integration of Wilson and strong 10.3 per cent growth like-for-like.
Profit from ordinary activities improved by €29.3 million to €46.8 million, representing 2.8 per cent of revenue. The initial impact of synergies added roughly €3 million to operating profit.
The start-up of new contracts in the second half helped to drive a 4.4 per cent increase in contract logistics revenue for the year. Profit from ordinary activities eased back slightly to just short of three per cent of revenue. It was impacted by volume declines at certain large accounts, contract terminations in late 2006 and early 2007 and the recognition of start-up costs in the second half.