GEODIS REPORTS LOSS FOR 2000

GEODIS REPORTS LOSS FOR 2000    Geodis, France’s large forwarding, logistics and trucking group, reported a loss of euro 27 million ($25 million) for 2000, as compared to a net profit of euro 19 million in 1999.
   Consolidated net sales increased by 8.5 percent to euro 3.4 billion ($3.2 billion) compared to 1999.
   The board of directors of Geodis met on March 22 to authorize the consolidated and parent company accounts for the 2000 financial year.
   Operating income fell by 64 percent, to euro 20 million ($19 million), from euro 57 million in 1999.
   Geodis said that its operating income declined as a result of several factors. They include a euro 13 million ($12 million) increase in fuel costs and a euro 26 million ($24 million) rise in personnel costs in France arising from the implementation of the 35-hour work week law and recent modifications to legislation regulating the transport industry.
   The Geodis group is present in over 40 countries and has about 25,000 employees.