Transport revenues hit at Norbert

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Norbert Dentressangle has reported a 12.5 per cent decline in revenue during 2009, which it said reflects the adverse impact of the recession.

Transport revenues were hit hardest, falling 14.8 per cent on a published basis and 13.4 per cent at constant exchange rates.

However the company said business volumes during the last quarter of 2009 were comparable to 2008.

The decline in logistics revenue came later in the year and was less severe compared to transport, seeing a 9.6 per cent drop on a published basis and six per cent decrease at constant exchange rates.

EBITA is expected to total some £69 million (80 million euros) which the group said is a result of rigorous management of its balance sheet, particularly in terms of working capital requirement.

Full year results will be published on 10th March.

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