Friday 28th Oct 2016 - Logistics Manager

TDG wins rise

TDG won more new business than in the first half of 2005 and also secured the bulk of its contracts scheduled for renewal. Net business wins of £34m were up by more than 60 per cent.

However, the group saw its headline profit figure slip to £4.9m in the first half from £6.1m last year owing to retail contract terminations combined with the phasing in of new business. Total profit before tax was up from £3.4m to £5.7m.

Chief executive David Garman said: “We are also pleased with the integration and performance of Mond, the Belgian chemicals company acquired at the end of February.

“TDG has both a strong balance sheet and cash generating operations, which will enable us to make further selective and earnings enhancing acquisitions.

“We made further good progress in new business development with wins in the period totalling £47.5m, compared to £44m achieved by the time of this announcement last year.

“Significantly, net business wins of £34.3m were well ahead of levels achieved at the comparable stage last year (£20.9m) owing to a substantially improved renewal rate. Contracts renewed in the period totalled £59.7m.”