leads to profits
20th May 1999, Page 10
20th May 1999
Page 10
Page 10, 20th May 1999
— leads to profits
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• BOC Distribution Services has declared an 8% rise in profits after ridding itself of its troubled contract with supermarket group J Sainsbury.
In the six months to 31 March the BOC Group's operating profit rose to £13.8m on a turnover that fell by 12% to £135.6m. The fall in earnings largely resulted from the termination of Sainsbury work at a
number of sites, including Bristol and Harlow, with the loss of up to 400 jobs.
But during the second half of the six months—the first three months of this year—turnover fell 20% because of poor trading at its main customer Marks 86 Spencer, the closure and sale of a French business and the loss of a contract with SmithKline Beecham.