Geodis, the French transport market leader, has announced a 6.1% rise in its revenues to EUR 2,785million over the first nine months of 2006. Third-quarter growth slowed to 3.7%, however.
Geodis said that its sales remained strong in France as well as in Eastern Europe, Germanyand Asia despite the weakness in volume from major customers in the high-tech sector. It alsoterminated some unprofitable contracts, which adversely affected growth but will have a positiveimpact on profit.
In France, despite one less business day, growth remained sustained due to significantvolumes in Groupage (LTL), Express, and Full Truckload services. Geodis does not disclose separatefigures for its large French express business.
In Europe, revenue was stable. Continued commercial development in Germany and Eastern Europeoffset the termination of an unprofitable contract in Russia during the summer and the reduction inbusiness from major customers in the high-tech sector in the Netherlands.
Asia and the Rest of the World continued to experience strong growth despite the cessation ofthe Carrefour business in Korea. Geodis said its full-year financial guidance was for a significantgrowth in sales and a further increase in operating profit in line with that achieved in the firsthalf of the year.
