Food, fuel and feed distributor NWF Group remained upbeat this week despite reporting a £4.4m interim pre-tax loss. Chief executive Richard Whiting praised the group for delivering a “very strong first-half performance”, in the face of “volatile” market demand and “significant” inflationary pressures. Announcing its half-year results for the period to 30 November 2021 the group unveiled a revenue rise of 30.1% to £402.6m, (H1 2020: £309.4m) but pre-tax profit plummeted 320% from a profit of £2m in the same […]
The European Commission (EC) believes “substantial remedies are needed” before the proposed takeover of TNT Express by UPS can be cleared. In a merger review speech made on Friday (2 November), Joaquín Almunia, EC vice-president responsible for competition, said that “serious competition concerns would arise” if it went ahead without revisions. Last month the EC revealed that approval would only come if the resulting company would be challenged enough by other parcel firms. TNT Express and UPS have since received […]
XPO Logistics has begun raising $3.26bn (£2.1bn) to finance its takeover of Norbert Dentressangle and for other, as yet unspecified acquisitions.
TNT UK is restructuring its operations and sales divisions in a management shake-up that will see up to 15 redundancies.