Norbert Dentressangle profit dips in 2008

Norbert Dentressangle profit dips in 2008

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French transport and logistics group Norbert Dentressangle Wednesday reported net income of 49.3 million euros ($73 million), down 0.9 percent compared to 2006, which included a one-off tax refund from motorway tolls.
   The company, based in Saint-Vallier-sur-Rhone, said its annual earnings before interest and taxes (EBIT) rose 19.8 percent to 79.8 million euros ($118 million) with revenue up 12.2 percent to 1.8 billion euros ($2.65 billion). The results include new British acquisition Christian Salvesen from Dec. 14. Pro forma revenue for the combined companies in 2007 stood at 3.08 billion euros ($4.5 billion) with EBIT of 91 million euros ($134 million).
   With the takeover of Salvesen, Dentressangle said it now conducts half of its business outside France. Road transport now represents 57 percent of its activity — 8,000 tractor units and 10,000 trailers — and logistics 43 percent — 4 million square meters of warehouse capacity.
   For 2008, the company’s aim is to achieve organic growth of 6 percent to 8 percent, while its “Passion Rouge 2010” business plan calls for sales approaching 4 billion euros.