Bibby Distribution in the red

Bibby in the red

Bibby Distribution Services (Holdings) slipped into the red to the tune of almost £4m in the year to 31 December 2012, compared with a £4.5m operating profit the previous year. This was the result of a £7.5m loss at its subsidiary System Training. Bibby Distribution chief executive Iain Speak said the distribution business made a “reasonable” profit considering it was still incurring restructuring costs after a series of acquisitions in the past three years. Speak said action had been taken […]