Stef reports revenue and profit growth in 2011
Stef-TFE recorded revenue and profit growth in 2011 despite a slight drop in food consumption in countries where it operates. The company attributed the growth to three acquisitions as well as key contract wins during the second half of the year.
The company announced revenues of €2,300m in 2011, a 12% increase compared to €2,057m in 2010. Operating profit was up 5.6% to €85.2m, resulting in a 3.7% profit margin, a slight decrease from the 3.9% profit margin recorded in 2010. However, STEF-TFE noted that the 2010 profit margin was boosted by significant capital gains on property disposals.
The company stated that its performance was impacted by an increase in labour costs due to a change in government rules, by the imposition of a new mandatory profit-sharing scheme and by higher taxes on businesses. Furthermore, energy prices also increased across Europe.
In its outlook for 2012, a company statement said: "The carry-over of big logistics contracts signed in 2011 across Europe should enable the Group to further increase its operating income."
Quelle: eyefortransport
Portal: www.logistik-express.com