Tibbett benefits from demand • Buoyant demand for clothes and
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consumer goods in the UK has boosted profits at Tibbett & Britten Group (TBG), the international distribution company. Last week TBG said there was growth in its existing business, particularly its UKbased clothing, textiles and soft goods division, which recorded a 9% increase in pre-tax profit to El 1.6m for the six months to 28 June.
Chairman John Harvey is upbeat about future prospects. 'The logistics sector remains lively," he says. "It is encouraging to see emerging consolidation within the sector in Europe."
The acquisition of Applied Distribution Group in June, along with two earlier deals to buy continental European businesses, means TBG is playing its port in swallowing up smaller companies. Car distribution division Axial UK continues its recovery, with an increase in profits to £.1.3m from £1.2m: turnover fell 6% to £45.2m. A good performance at Axial Europe was masked by the strength of the pound, however.