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Norbert Dentressangle’s Transport arm hit by TDG integration

  • 01 March 2012
  • By Hayley Pink

Norbert Dentressangle (ND) saw strong growth in 2011, with revenue up 26% to €3.6bn (£3bn).

However, ND says the integration of TDG into its Transport division drove down profitability in the UK, with its operational performance “below that of Group standards”.

Despite this, Transport reported an operating profit of €47.4m (£39.7m), up 7.5% on the previous year’s €44.1m (£37m).

ND attributes this growth to the good performance of its pallet network business, the turnaround of its general cargo work, and the fact it was able to pass on most diesel price increases.

The UK as a whole also played a significant part in boosting ND’s Logistics fortunes, generating 41% of total revenue, making it the division’s “key country”.

ND’s Logistics division operating profit jumped 27.6% to €80.4m (£67.4m) in 2011, compared to €63m (£52.8m) in 2010.

Chief executive Francois Bertreau says: “In 2011, ND took a decisive step in its development by maintaining a high rate of growth and strengthening its international profile with the acquisitions of TDG and APC Beijing International.”

He adds: “The economic environment has been more subdued since the end of 2011, but the group is strong enough to withstand this and to adapt.”

ND’s Freight Forwarding division, launched two years ago, is now at a break-even, with TDG and Beijing International making a positive contribution to its success.

ND’s group’s operating profit before EBITA was up 22.6% to €130.4m (£109.3m), compared with 2010’s figure of €106.3m (£89.1m). Operating margin dipped slightly to 3.6% from 3.7% in the previous year.

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Article source: http://www.commercialmotor.com:80/latest-news/norbert-dentressangle