NFC boosts its pre-tax profit by 43%
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• NFC, which owns Exel Logistics, Lynx and Pickfords, increased its pre-tax profit by 43% in the 28 weeks to 13 April, it announced this week.
The group described the £49.1m profit as encouraging, although it continues to lose money on European operations. NFCs restructuring is said to be on schedule.
0 Britain's second largest haulier, Wincanton Logistics, announced profits up 6% to
£23m on a turnover up 15% to £350m for the year to the end of March—despite losing a substantial amount of milk carrying business.
Chief executive Chas Lawrence says he is "reasonably pleased" by the results, considering the pressure on rates in the logistics market.
Last year Wincanton spent £53m on acquisitions, vehicles and warehousing to service newly signed contracts with Pedigree Pet Foods, Lever Bros, Mars and the Greenhalls Group. 0 Christian Salvesen demonstrated further evidence of that pressure on rates by announcing a £2m fall in profits for its logistics division, to £43.4m on a turnover, up more than 18% to .£465m.
Profits also fell in Salvesen's food services sector, but were saved by specialist hire division, which posted profits up am, to .C30m_