Logistics giant Norbert Dentressangle has reported a strong 2009, cutting debts brought on by the recession and returning a healthy profit due to advances in the UK.
Recurring operating profit advanced 11 per cent to €87.9 million (£79.8m), thanks to the rapid adaptation of resources to reported revenue levels.
The company’s financial position remains strong with its net debt for the year cut to €445m, down from €553m at the end of 2008.
In 2009, consolidated revenue decreased 12.5 per cent overall and contracted 10.2 per cent at constant exchange rates. The transport business recovered in the last few months of the year, following a sharp decline in the first half of 2009.
Group chief executive François Bertreau said: "Norbert Dentressangle Group had a strong year in 2009. The business was undoubtedly severely impacted by the recession, but we demonstrated our capacity for rapid adaptation and our resilience in the face of sharply eroded macro-economic conditions. Thanks to cost-cutting measures, we were able to report satisfactory results in a difficult period. For 2010, in the absence of a real economic recovery, we remain watchful so as to maintain our competitive footing, while continuing to launch fruitful initiatives for future growth, such as our recently introduced freight forwarding activity.
"In the UK, our second-largest market outside France, 2009 has been a good year for our logistics business, both in term of activity and profitability. We have also made strong progress in the UK transport business and remain optimistic for the future.”
No comments yet