GEODIS MOVES BACK INTO THE BLACK
Geodis, the French trucking, forwarding and logistics group, moved back into the black last year, after two years of losses, with a small net profit of 2 million euro ($2 million) for 2002 on revenues of 3.3 billion euro ($3.4 billion).
The results compared with a net deficit of 138 million euro ($101 million) and revenue of 3.5 billion euro in 2001.
Operating profit for 2002 was 51 million euro ($53 million), up 49 percent from the previous year’s profit of 35 million euro.
Geodis said that it achieved breakeven, as forecast, despite the unfavorable economic environment.
The French group said that results from its European activities outside France have significantly reduced their operating loss, to 10 million euro ($10 million) from 25 million euro, particularly as a result of the closure of United Carriers.
Activities in the rest of the world incurred an operating loss of 2 million euro ($2 million), reflecting the adverse economy and crises in Argentina and the Ivory Coast.