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Geodis group first quarter revenue up 18 percent
POSTED: 10:04 a.m. EDT, April 28,2007
Geodis has reported group revenue increased 18 per cent in first three months of the year to EUR1.11 billion (US$1.51 billion). This figure includes revenue generated since February from its Wilson unit, previously known as TNT Freight Management.
Excluding Wilson, revenue rose 4.3 per cent year on year at EUR938.5 million in the first quarter of 2006.
The group's operations in the Asia, Africa and Mexico contributed EUR56 million to the group's total revenue for the first quarter of the year, up from EUR54.3 million for the same period in 2006.
The company said the Asia/Africa/Mexico region was affected by the weak US dollar and the termination of the Carrefour contract in South Korea, which had a negative impact of 3.3 per cent. Year-on-year growth was 12.7 per cent, with India and China achieving the strongest growth.
The group's home market in France generated a first quarter revenue of EUR695.2 million, up 6 per cent from the EUR656.0 million revenue recorded in the same quarter last year. Growth was led by the Groupage and Express and air/sea freight forwarding businesses, while full truckload revenue was up 2.9 per cent year on year.
In Europe (excluding France), revenue was near stable at EUR262.2 million, mainly as a result of the termination of contracts in Russia and Hungary. Revenue in the Benelux countries experienced a further decline, but Ireland, Germany and Italy continued to enjoy robust growth, the company added. |
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