Geodis breaks even in first half-year
Geodis, the large French trucking, forwarding and logistics group, broke even in the first half of this year for the first time since 2000.
Net income for the six-month period amounted to about 200,000 euros (about $220,000), as compared to a loss of 8.6 million euros in the first half of 2002.
Operating profit rose by 13 percent, to 23 million euros ($26 million) over the same period, from 20.4 million euros.
“Despite an extremely difficult economic situation, Geodis is managing to continue the improvement of its operating margin,” it said.
To restore its results, the French group has closed Geodis Overseas Chile and shed Geodis Overseas Deutschland and Z'st Ambrosetti Hong-Kong.
In Europe, its companies based in Spain and Great Britain continued their recovery operations, the group said. Similar recovery plans were undertaken in Italy and Belgium-The Netherlands-Luxembourg, where results have been “very unsatisfactory.”
Present in more than 40 countries, Geodis has a workforce of 23,500 people worldwide.