• Christian Salvesen shares fell sharply this week as the company issued a profits warning.
3rd February 1994, Page 5
3rd February 1994
Page 5
Page 5, 3rd February 1994
— • Christian Salvesen shares fell sharply this week as the company issued a profits warning.
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The board believes profits before tax and exceptional items for the year ending March 1994 will be below current market expectations and "slightly lower than the £74.8m reported last year", largely because of pressure on its hire business.
Distribution, which is Salvesen's biggest divsion, made operating profits of £18m on a turnover of £1 39.7m in the six months to September last year.
Swift Distribution, which was bought in October last year, is performing ahead of expectation, says the company.