Gefco expects its UK arm to be profitable in 2012, as it prepares for the beginning of a major seven-year contract with General Motors that begins in January. The automotive logistics specialist narrowed its losses in the UK for the year-ending 31 December 2011 to £324,000 from £3.7m in the previous year. Turnover fell slightly from £114.5m to £112.5m. Sales and marketing director John Stocker told MT that the losses were a legacy of the 2006 closure of Peugeot’s plant […]
Gefco UK has attributed a drop in turnover and profit to “Brexit-related” concerns and new accounting procedures.
Gefco has signed an €8bn (£7.15bn) exclusivity deal with former parent company PSA Peugeot Citroën, which will see it manage the company’s entire global supply chain.