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Article: Logistics giant sees no sign of recovery.(Business)
- Article from:
- The Birmingham Post (England)
- Article date:
- June 12, 2002
CopyrightCOPYRIGHT 2002 Birmingham Post & Mail Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Cheryl Cole
Edward Roderick, chief executive of Christian Salvesen yesterday said he saw no signs of a recovery in the manufacturing industry, after posting a near 26 per cent fall in profits.
The Midlands logistics group said pre-tax profits fell to pounds 29.2 million, below analysts' expectations, in the year ending March 31, in which it had to cope with overcapacity in the European automotive industry and a slump in other industrial sectors. 'Tough conditions look ...