Hargreaves Services is confident it can rebuild turnover and profit in its logistics business after the division suffered a 47% drop in operating profit to £2.3m last year. Turnover in its logistics operation fell from £68.3m to £54.5m in the year to 31 May 2016, which it mainly attributed to changes in waste movements following a clarification of waste classification by HMRC. It said the sale of Imperial Tankers to Sutton Group in 2014 accounted for some £7.3m of the drop in turnover. […]
JSC Russian Railways (RZD), is in talks to buy 75% of Gefco, the logistics arm of cash-strapped car maker PSA Peugeot Citroën for €800m (£640m). PSA Peugeot Citroën said the proposed deal should speed Gefco’s growth by creating a business with enhanced reach in logistics services linking Europe and Asia. The existing management team, led by its president Luc Nadal, will not change, it added. Vitaly Belskiy, from consultancy Frost & Sullivan, said: “The deal is a clear ‘win-win’ for […]
Suckling Transport said business had been “encouraging” last year, with profit and turnover up 49% and 43% respectively.
Heywood, Lancashire logistics firm Yearsley Group has begun taking delivery of the first of 26 new trucks and 50 new trailers being added to the fleet to cope with additional business.