;alvesen up
15th December 1988, Page 9
15th December 1988
Page 9
Page 9, 15th December 1988
— ;alvesen up
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I Christian Salvesen has rerded a 14.4% increase in re-tax profits to £27 million ir the half-year to the end of eptember, despite what manging director Barry Sealey de:ribes as a "dreadful" first half )r the company's Californian Ad-storage operation. This rompted a 12p fall in its share rice to 150p.
Sealey blames poor managetent for the decline in US proLs, from 23.2 million to £1.87 union, and says that wareouse managers failed to sell iequate storage space.
Profits from Salvesen's refrieration operation, as well as ecialised distribution services ir Marks & Spencer, rose by 9% to 29.51 million.
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