GEODIS REPORTS $52-MILLION HALF-YEAR LOSS

GEODIS REPORTS $52-MILLION HALF-YEAR LOSS    Geodis, the large French transport and logistics group, reported a group net loss of 58 million euro ($52 million) for the first half of the year, compared to a profit of 31.5 million euro for the same period in 2000.
   Net sales increased by 4 percent, to 1.8 billion euro ($1.6 billion), from 1.7 billion euro in the first half of 2000.
   Gross operating income rose by 15 percent, to 81 million euro ($72 million). Operating income was up by 8 percent, to 15 million euro ($14 million).
   However, heavier financial costs and exceptional expenses pushed the group’s results into the red.
   Geodis reported improved results from groupage (less-than-truckload) operations in France and from full truckloads operations in the first half of the year, whereas its U.K. subsidiary United Carriers had a “very poor performance” and logistics and overseas packages activities in Latin America faced “difficulties.”
   The group plans to write down the values of non-performing assets and record the costs of restructuring measures already undertaken.
   Geodis warned it is “very likely” that it will post a significant group loss again for the second half-year, after taking into account restructuring provisions.