Geodis sees profit rise of 11% in 2007

Geodis sees profit rise of 11% in 2007 French trucking, forwarding and logistics group Geodis posted net income of 53.7 million euros ($79 million) in 2007, up 11 percent compared to 48.4 million euros in 2006.
   Geodis’ annual operating profit increased 15.3 percent to 122.7 million euros ($181 million), which included 20.7 million euros in integration costs relating to the acquisition of TNT Freight Management (now Geodis Wilson) completed last February.
   Revenue for the year was up 26.4 percent to 4.78 billion euros ($7.03 billion) with the inclusion of its new subsidiary. On a like-for-like basis revenue growth was 5.4 percent.
   “After a transformative 2007, Geodis expects to see further steady growth in revenue and earnings. In expanding markets, Geodis will continue to offer customers around the world a comprehensive range of global, door-to-door solutions that are becoming more competitive and more attractive with every passing year,” the company said in a statement.
   In January, Geodis paid 77 million euros for German international air and sea freight forwarder Rohde & Liesenfeld, its main network partner since 2002. R&L is being consolidated by Geodis Wilson.