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Article: Salvesen is hit by 25 per cent slump in earnings
- Article from:
- Evening News - Scotland
- Article date:
- June 11, 2002
CopyrightCopyright 2002 Evening News - Scotland. Provided by ProQuest LLC. (Hide copyright information)
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CHRISTIAN Salvesen, the logistics group, has reported a 25.7 per
cent slump in annual profits following the downturn in the
manufacturing sector, which hit performance at its industrial
division.
For the year to the end of March, the group posted a pre-tax
profit of 29.2 million pounds, compared with GBP 39.3m for the
previous year, despite a 13.2 per cent rise in turnover to GBP
835.3m.
Chief executive Edward Roderick said: "It has been a year of mixed
fortunes for Christian Salvesen, with clear progress in some areas of
our business outweighed by disappointing performances elsewhere.
"Our food and consumer division across Europe has performed
robustly, winning new business from blue ...