French logistics group Geodis today announced that it increased its overall revenues by 5.3% to EUR3,784 million in 2006 after slower growth of 3.0% in the final quarter of last year.
In France, annual growth was supported both by high volumes in Groupage Freight (LTL) andExpress in the last quarter of 2006 and by air and sea freight forwarding business, Geodis said ina statement. The reduction of volume in contract logistics in the high-tech industry and theslowdown of automobile production partially offset these sources of growth. France revenues ended2006 up 5.7% at EUR 2,653 million.
In Europe, annual revenue increased by 3.2% to EUR 1,046 million. Italy turned the corner in2006, showing positive growth. At the same time, development of new contracts in Eastern Europe andGermany continued. Trends of the prior quarters in high-tech contract volumes weighed on revenue inBenelux and the United Kingdom. Asia and the rest of the world posted growth of 21.6% to revenuesof EUR 243 million with strong development in China, Geodis noted.
The acquisition of TNT Freight Management (TFM) is expected to close on 5 February 2007, thecondition precedent related to clearances and approvals of competition authorities having been met,the company added.
