Geodis? first half profit hit by integration costs

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).