Operating profit rose 5.9 per cent at Geodis reaching 14.3m euros in the first quarter, while sales were up 1.1 per cent at 3.5bn euros.
The company said that the improvement was not just down to sales growth – a cost-cutting plan introduced in late 2009 had a positive impact on the results.
“Geodis started the year by winning a new logistics and distribution contract with Mattel in Southern Europe. In Eastern Europe, the opening of a new logistics platform near Moscow and acquisition of MF Cargo, a leader in transport and distribution in Hungary, accelerate Geodis’s development and demonstrate its ability to bring its customers end-to-end supply chain management,” the group said.
In France, the partial takeover of Sernam’s activities is designed to enable Geodis to develop its groupage and express business. It is also expanding its Evry logistics platform in the Paris region.
Looking ahead, the group said that with no global economic recovery in sight in 2012, Geodis would forge ahead with its strategy “to win new business and pursue its transformation plans with the aim of enhancing organisational flexibility and improving productivity”.