GeodisÆ first half profit hit by integration costs
Geodis, the French trucking, forwarding and logistics group, said that integration costs of TNT Freight Management (now Geodis Wilson) resulted in a 34.3 percent first half net income drop to 14.2 million euros ($20 million), from 21.6 million euros last year.
Operating profit in the six months decreased 16.2 percent to 44.5 million euros ($61 million), with Geodis Wilson contributing 5.6 million euros ($8 million) to that figure since being bought in February from the Dutch postal and express group TNT for 460 million euros ($597 million).
Geodis’ first half revenue improved on the back of the takeover by 22.1 percent to 2.30 billion euros ($3.15 billion).
Geodis? first half profit hit by integration costs
