Tradeteam top at NFC
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Exel Logistics' Tradeteam was a top performer for growth, but profit in the UK proved harder to come by in the car and chemical markets, NFC's latest financial results show.
Turnover at Exel in Europe rose by 10% to $65Bm for the six months to 31 March 1999—most of the increase was brought by NFC's purchase of Walsh Western last summer and Monros.
The drinks distribution company Tradeteam helped towards a 14% rise in contract growth, while Exel's business in the automotive, petrol and chemicals markets dragged behind on profit margin improvement and contract renewals, suffering from "difficult' DK market conditions.
Overall, Exel in Europe increased its operating profit by 17% to £24.6m.
Including NFC's Allied Pickford's removals operation in Europe, the Americas and Asia Pacific, and its Exel businesses in the same regions, its total turnover rose 9% to 11,190m. Operating profit was up 10% to £55m.