Gist’s annual profit tumbles by 50% after heavy investment

Gist truck
 

Contract changes and one-off project costs contributed to Gist’s annual profit plunging by more than half last year, according to the firm’s latest results. Whilst the food, networking and contracts logistics business saw turnover rise 4.8% to £437.3m (2016: £416.6m) in the year to 31 December 2017; its pre-tax profit fell 50% to £8.8m (2016: £17.7m). In its strategic report to the accounts, the  company, which counts M&S, EAT and Starbucks among its clients, attributed the downward profit spiral to […]