Friday 28th Oct 2016 - Logistics Manager

Salvesen profits slip

Christian Salvesen has reported a slip in underlying operating profit from £20.7m to £18.1m despite a 10 per cent increase in sales. Much of the problem was in the transport business. Although sales rose eight per cent to £442m, margins weakened and operating profit halved to £3.7m.

The bright spot was the UK Food and Consumer business which produced a £1.8m rise in underlying operating profit to £10.4m on sales up 17 per cent.