Norbert Dentressangle posts double digit profit growth

Saint-Vallier, France; Norbert Dentressangle posted double digit growth in profits and revenue in its full-year results today.

During a period in which the French company has extended its reach across the UK, its consolidated revenue jumped 26% to €3.6 billion (£3.03bn) in 2011.

Net profit grew 11% to €63.3 million and EBITDA rose 17% year-on-year as margins grew.

Along with expansion in China, the company also acquired British based firm TDG in March last year and has since been securing several key UK retail contracts including House of Fraser.

François Bertreau, chief executive, Norbert Dentressangle, said: “In 2011 Norbert Dentressangle took a decisive step in its development by maintaining a high rate of growth and strengthening its international profile with the acquisitions of TDG and APC Beijing International.

“Thanks to the commitment of our staff to operational excellence and rigorous management, our operating profit grew in all our business activities.”

Its freight forwarding business expanded to €86 million during the year, while its transport & logistics segement reported good organic growth.

The UK became the “key country” for the company’s logistics services during the year and now accounts for 41 per cent of business revenue in this division.

Bertreau added: “Overall 2011 has been a very positive year for Norbert Dentressangle in the UK.

“Firstly the acquisition and successful integration of TDG has greatly increased our presence in the country, secondly the Logistics business has achieved strong sales growth and profitability and, thirdly, the Transport business reached break even.”

Nortbert Dentressangle reports that it is currently in a robust financial position with borrowings of $624m, but it warns that it has seen signs of greater volatility in customer demand this year caused by the economic uncertainty still surrounding Europe.