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Mixed financial news at TDG
Page 14
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TDG HAS MADE first-half pre-tax profits of £5.7m, up from £34m in the same period last year.
CEO David Garman says the Belgian chemicals company Mond, acquired at the end of February, has integrated well and TDG's balance sheet and cashgenerating operations remain strong, despite headline profits being hit by lost contracts last year: it turned in £4.9m compared with £6.1m in 2005.
First-half turnover at its UK Contract Logistics division fell fromE127.1mtoE117.9m.
Garman says: "In the absence of further restructuring costs, total profits for the half year were better than {for the same period] last year. We've won more new business than in the first half of 2005 and secured the bulk of our contracts scheduled for renewal."
He adds that trading has improved following a sluggish start and second-quarter results in all divisions of the business were ahead of last year. Garman says he remains "confident".
The board declared an unchanged interim dividend of 5.25p per share, to be paid in October.