Gefco Group fights back after revenues hit by Covid-19 lockdown


 

Global group Gefco, which owns Gefco UK, saw revenues fall by almost a fifth last year after Covid-19 forced the closure of its customers’ car manufacturing plants. Announcing its results for the year to 31 December 2020, Gefco, which is 75% owned by Russian Railways and 25% owned by Peugot, Citroen and Vauxhall manufacturer, Group PSA, revealed a 19.7% drop in overall revenues to €3.8bn (£3.3bn). The group’s finished vehicle logistics (FVL) division saw its turnover plunge by almost 22% […]