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French forwarder Norbert Dentressangle sales up 14pc to US$4.26 billion
FRENCH forwarding giant Norbert Dentressangle posted a 14.1 per cent year-on-year increase in revenue for the first nine months of the year to EUR3.37 billion (US$4.26 billion).
Transport revenue was up 3.7 per cent year on year EUR1.61 billion thanks to a strong momentum in the pallet distribution business.
Logistics revenues increased 6.7 per cent like for like, to EUR1,670 million due to continued market share gains in Europe and Russia.
The air and sea business generated revenues of EUR149 million over the period up 0.8 per cent year on year and 7.3 per cent in the third quarter.
"The integration of Jacobson from September 1 is going according to plan," said the company, referring its purchase of Des Moines-based 3PL from private equity firm Oak Hill Capital Partners.
"The acquisition of Jacobson is a key milestone in Norbert Dentressangle's development strategy to become a top-tier player in global supply-chain management," said Norbert Dentressangle CEO Herve Montjotin at the time.
Commenting on the companies first nine months, Mr Montjotin said: "Norbert Dentressangle has maintained a strong growth momentum in its business activities over the first nine months of 2014, while reaping the benefits of its increasingly international profile."
Mr Montjotin said the French market was still weak, due to the unfavourable economic climate and uncertainty produced by the prospect of a heavy goods vehicle tax, since withdrawn.
"The integration of Jacobson in the United States, consolidated since September 1, is proceeding rapidly and smoothly and the roll-out of the Norbert Dentressangle brand is already underway," he said.
"Our sustained sales momentum in the United States should generate high organic growth for the end of this year and next. "Tight control over operating costs across all our businesses gives us confidence in our ability to maintain an operating margin comparable to the levels recorded over the past few years," said Mr Montjotin.
More than 62.4 per cent of revenues were generated outside France. The UK accounted for almost 30 per cent of total revenue, and the US is now the company's third largest market.
Transport revenue was up 3.7 per cent year on year EUR1.61 billion thanks to a strong momentum in the pallet distribution business.
Logistics revenues increased 6.7 per cent like for like, to EUR1,670 million due to continued market share gains in Europe and Russia.
The air and sea business generated revenues of EUR149 million over the period up 0.8 per cent year on year and 7.3 per cent in the third quarter.
"The integration of Jacobson from September 1 is going according to plan," said the company, referring its purchase of Des Moines-based 3PL from private equity firm Oak Hill Capital Partners.
"The acquisition of Jacobson is a key milestone in Norbert Dentressangle's development strategy to become a top-tier player in global supply-chain management," said Norbert Dentressangle CEO Herve Montjotin at the time.
Commenting on the companies first nine months, Mr Montjotin said: "Norbert Dentressangle has maintained a strong growth momentum in its business activities over the first nine months of 2014, while reaping the benefits of its increasingly international profile."
Mr Montjotin said the French market was still weak, due to the unfavourable economic climate and uncertainty produced by the prospect of a heavy goods vehicle tax, since withdrawn.
"The integration of Jacobson in the United States, consolidated since September 1, is proceeding rapidly and smoothly and the roll-out of the Norbert Dentressangle brand is already underway," he said.
"Our sustained sales momentum in the United States should generate high organic growth for the end of this year and next. "Tight control over operating costs across all our businesses gives us confidence in our ability to maintain an operating margin comparable to the levels recorded over the past few years," said Mr Montjotin.
More than 62.4 per cent of revenues were generated outside France. The UK accounted for almost 30 per cent of total revenue, and the US is now the company's third largest market.
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