Hellmann Worldwide Logistics appears to be out of the woods after its German parent company completed its delayed refinancing exercise. The parent company has been in protracted negotiations with 11 funding partners to refinance a €159m (£125m) loan, which makes up 40% of the group’s total loans, for more than a year. Delays to the refinancing, which saw it breach two deadlines in August 2015 and May this year, prompted independent auditor Graham Neale to flag up his concerns about […]
City Link’s profit and volumes suffered as it fell victim to lower than expected demand during the Olympic Games. The parcel firm posted a turnover of £76.2m for the three months ending 30 September, a 2.4% increase on the same period in 2011. It is the first time City Link has reported year-on-year growth in the last five years, Managing Director Dave Smith said. It made an adjusted operating loss of £5.5m in the third quarter, a 19.1% rise on […]
Fuel efficiency increases from its Euro-6 fleet boosted CM Downton’s pre-tax profit last year.