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TDG made more in 2007
Page 7
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HAULAGE GIANT TDG gave its shareholders a modest amount of pre-Christmas cheer this week by reporting good progress in 2007.
TDG, which had a turnover of £531m in2006, says it won more new business in2007 than the year before with "most of the growth delivered by our chemicals division".
The company's strategy is to develop business in specialised sectors rather than traditional retail, partly because the profit margins in areas such as chemicals, paper and packing are higher.
Its expansion in such areas included the purchase of Dorman for £20.1m in February; this company has now been integrated into TDG's chemicals division. The statement adds that the UK chemicals business performed well in 2007,despite lower volumes".
The first six months of 2007, which 'I'DG reported in August, saw turnover up 26% to £319m while pre-tax profits fell to £4.4m, compared with £5.7m in 2006.
Official preliminary results for the whole of 2007 will be released on 27 February.