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remain 'under pressure'
Page 19
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CHRISTIAN SALVESEN will have to act quickly to improve its performance if it wants to dampen takeover speculation, say analysts.
In a downbeat trading statement last week the logistics giant admitted that there had been no improvement in its troubled Iberian transport business in the past two months, with volumes remaining lower than expected.
It added that the business has not yet recovered as it had hoped, with the result that profit margins remain "under pressure". Despite this the company expects to boost turnover by a record 7% year on year.
Chris Morgan, lead analyst in Datamonitor's logistics team, believes that Salvesen's
recovery plan now hangs the balance", especially "second-half results are set be at the same level as in t first six months, which will cor as a great disappointment both the company itself a the markets".
Salvesen is due to relea its interim results for the months to 30 September Tuesday (5 December); promises to disclose mc information then.
Morgan believes one of t keys to success for Salves will be developing its busine in Central and Eastern Euro and Asia-Pacific: "This nee to be sooner rather than la in order to improve its financ performance and perceptic if the company wants to avc speculation over a possit takeover from increasing."