Geodis first half revenue up 37.1pc to US$4.04 billion

GEODIS has posted a 37.1 per cent increase in revenue during the first half of the year to EUR3,112.6 million (US$4.04 billion).

On a comparable structure and exchange rate basis, revenue rose 11.7 per cent, or EUR265.3 million, from the year-earlier period.

"Changes in the scope of consolidation in 2009 and early 2010 added EUR523.5 million over the period. Significant acquisitions included IBM Global Logistics, IBM's global logistics flow management platform," said a company statement.

"This business was gradually integrated as from March 2009, leading to the creation of the new supply chain optimisation division. Other targeted acquisitions enhanced Geodis' positions in France and abroad, chief among them Giraud International, Cool Jet, Sealogis, STSI, Bertola Servizi Logistici, Chevallier and Ciblex," the statement said.

"While all divisions contributed to revenue growth, those with the greatest international profile recorded the strongest increases," it said.

Freight forwarding saw higher air and sea freight volumes, notably between Asia and Europe, lifted revenue in the first half. Contract logistics saw the start-up of new projects and a slight upturn in the automobile industry business contributing to revenue growth. Full truckload volumes recovered for consumer goods and industry, but declined for chemicals.
(Source:www.schednet.com)