Salvesen warning

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Christian Salvesen has warned that the business environment remains challenging “and margins in many of our markets are under pressure”.

However, in its close period statement, Salvesen said sales were growing at seven per cent.

It has been improving efficiency in the UK transport business “although the first benefits will only be seen in the second half”.

“Volumes in our Iberian transport business have been lower than expected and the reduced availability of subcontractors has increased costs. In our mainland Europe food & consumer business, the productivity gains needed to offset pricing pressure have been more difficult than expected to achieve. Elsewhere, the business is performing in-line with our expectations.”

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