EUROPEAN transport and logistics provider the Norbert Dentressangle Group (NDG) has reported a first half net income attributable to equity holders of the parent, for the period ending June 30 2008, of EUR16.1 million (US$22.97 million), down from EUR25.3 million for the same period a year earlier.
The decline in net income was due to booking a financial loss of EUR16.7 million in the first half of this year versus a loss of EUR3.3 million for the corresponding period last year.
Despite the significant loss, the company reported "dynamic activity" during the first half of 2008, with revenue totalling EUR1.6 billion, the same level achieved over the whole of 2006, reports Transport Intelligence.
Recurrent operating income during the reporting period increased by 46 per cent to EUR46.3 million, representing 2.9 per cent of revenue.
EBITA (earnings before interest, tax and amortisation), which includes EUR6.6 million in restructuring costs recorded the first half of the year, grew by 16 per cent to EUR41.6 million, according to a group statement.
Sales for the transport division during the first half period rose by 66 per cent year on year to EUR924 million.
"Now that Christian Salvesen's transport activities in France, Spain and the UK have been integrated, the optimisation of its structures and networks is in the final stages," NDG was cited as saying in reference to its recent acquisition of Christian Salvesen.
Sales for the logistics division in the first half of the year increased by 112 per cent year on year to EUR676 million. "The operating profitability of Christian Salvesen's logistics activities was affected in the first half by restructuring initiatives," added NDG.
The decline in net income was due to booking a financial loss of EUR16.7 million in the first half of this year versus a loss of EUR3.3 million for the corresponding period last year.
Despite the significant loss, the company reported "dynamic activity" during the first half of 2008, with revenue totalling EUR1.6 billion, the same level achieved over the whole of 2006, reports Transport Intelligence.
Recurrent operating income during the reporting period increased by 46 per cent to EUR46.3 million, representing 2.9 per cent of revenue.
EBITA (earnings before interest, tax and amortisation), which includes EUR6.6 million in restructuring costs recorded the first half of the year, grew by 16 per cent to EUR41.6 million, according to a group statement.
Sales for the transport division during the first half period rose by 66 per cent year on year to EUR924 million.
"Now that Christian Salvesen's transport activities in France, Spain and the UK have been integrated, the optimisation of its structures and networks is in the final stages," NDG was cited as saying in reference to its recent acquisition of Christian Salvesen.
Sales for the logistics division in the first half of the year increased by 112 per cent year on year to EUR676 million. "The operating profitability of Christian Salvesen's logistics activities was affected in the first half by restructuring initiatives," added NDG.