Friday 3rd August 2012, 04:22 Central Time
Norbert Dentressangle 'holding up well'
Group sees revenue increase through opening six months of the year despite flat economy
Global transport, logistics and freight forwarding company Norbert Dentressangle has reported on its results for thefirst half of 2012, with consolidated revenue climbing but net profit sliding 3 per cent.
Consolidated revenue grew 13.3 per cent to €1.9bn, up from €1.7bn in 2011, with the rise coming despite a 'sluggish economy', the group noted.
Earnings before interest, taxation, depreciation and amortisation fell 4.5 per cent to €118.1m, with net profit dropping to €29.9m from €30.9m.
"While the world, and specifically the European, economy clearly did not help our business to grow in the first half of the year, I still believe that Norbert Dentressangle is holding up well by managing to maintain its operating margin at a time when the business reflects the difficulties of our industry and retail customers on their own markets," said group CEO François Bertreau. "Our performance boosts my confidence in our ability to cope with future fluctuations in the economy."
By segment, transport revenues grew 7.7 per cent to €1.04bn, while there were also improvements in logistics (+18 per cent to €862m) and freight forwarding (+109 per cent to €68m).
Looking ahead, the group said that its managementremained confident of the outlook in view of the company's strengths of a broad geographic coverage, a global offering and a diverse customer base.