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Ocean group denies NFC link
18th December 1997, Page 9
18th December 1997
Page 9
Page 9, 18th December 1997
— Ocean group denies NFC link
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• The Ocean group has refused to comment on reports that it was in informal talks with NFC earlier this year about forming a partnership deal. NFC's chief executive Gerry Murphy has made no secret of the fact that he would like to acquire a freight forwarder to add an air-freight side to the business. But a spokesman for Ocean Group says: "We have had no formal talks of any nature—we do not comment on market rumour."
The news came as NFC reported a 9% rise in pre-tax profits before exceptional items to 2115.6m for the year to 30 September. Although the performance at Tradeteam—the joint Bass/Exel Logistics operation—was strong, profits fell at NFC's truck rental and hire business, prompting speculation about a possible sale.