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CS profits up despite tough trading in UK
Page 18
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:HE MD OF Christian Salvesen ays the first half of the year as tough for its UK transport iusiness, with no sign that volumes viii increase any time soon.
However, the UK's numberhree logistics company's interim esults show turnover up 1% in the alf-year ending 30 September. 'ear-on-year pre-tax profits were op £400,000 to £8.1m.
CEO Stuart Oades says the icrease in profits is reflected by he fact the company had no xceptional charges one-off osts that distort profits during le period.
"I'm pleased to say that there ave been some early signs our usiness is broadly returning to growth the exception to that our UK transport business Oades adds, Salvesen's UK transport bu ness has won contracts with Alpha Flight Services. Nestle Waters and Asda; it has also benefited from increased demand for its cold store network.
However. Oades says tougher refrigerants legislation is likely to hit capacity: "Like-for-like volumes from our customers in that business are down is 6-7% and we hope to see some pick-up in activity as we go through the last couple of months Si[of 20051 "We have still seen no sign of that, which leads us to believe that 6-7% is a likely position moving forward. 51