Monday 24th Oct 2016 - Logistics Manager

Profits slip at Hoyer

Hoyer, the German group that specialises in logistics for the chemicals and foodstuffs industries, made a pre-tax profit of €32.6m last year, down from the previous year’s €37.3m on sales down fractionally at €1bn.

Sales by the company’s European chemicals logistics business grew by three per cent. The number of shipments increased slightly compared with the previous year, thanks to new business and despite the negative effects of the recession in Europe.

The Supply Chain Solutions division also moved ahead as did sales in the petroleum logistics business

Sales in the liquid foodstuffs and industrial gases logistics businesses on the other hand dropped. The group said the primary reason for this was due to the highly price-aggressive competitive environment.