Salvesen in Spanish takeover

Salvesen in Spanish takeover

CHRISTIAN SALVESEN, the logistics, specialist hire and food services group, yesterday said it had agreed a pounds 66.6m takeover of Gerposa, the Spanish transport and logistics company. The acquisition was announced at the same time as Salvesen's March year-end results, which saw the group report pre-tax profit before exceptionals of pounds 32.3m, 8.5 per cent down on a year ago. Edward Roderick, chief executive, said the disappointing performance was inevitable in light of group restructuring.