Christian Salvesen has set itself the key target of turning around its UK transport business over the coming months.
Announcing the group’s half year results, new chief executive Stewart Oades said: “We have been encouraged by the level of new business wins across the group to date, but do not underestimate the challenge of maintaining this progress. The key to our performance in the second half will be our success in turning round the UK transport business.” Christian Salvesen’s pre-tax profit rose fractionally to £8.1m in the first half while sales also rose marginally to £402m. Although there was progress with new business wins and contract renewals group profits were affected by lower volumes in the UK transport business and by the under recovery of higher fuel costs in Iberia.
Oades has been reorganising the business to give it a flatter, more decentralised structure and it recently announced a joint venture with freight forwarder APL Logistics.
Salvesen targets UK transport
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