Business News

Logistics Group Sees Recovery in Q1

Ljubljana, 19 May (STA) - Logistics group Intereuropa generated sales revenues of EUR 56.7m in the first quarter of the year, a 28% increase compared to the same period last year. The company was back in the black after a loss-making 2010.

The group's net profit for the first quarter amounted to EUR 0.7m, while its operating profit stood at EUR 2.3m, which is 32% above plans, Intereuropa said in a statement issued after Thursday's meeting of its supervisory board.

According to the statements, all three divisions - land transport, logistics solutions and intercontinental transport - saw growth in sales in the quarter.

The biggest growth was registered by the land transport division, where sales were up 38% compared to the same period last year.

The higher-than-expected operating profit is a result of the increase in sales as well as cost-cutting, the group said.

"We have seen positive developments in various areas over the past months. The main focus of the group is still on providing financial stability...which is a key part of the strategy through 2014," the group's statement reads.

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