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Autologic reports turnover and profits down in 2003

Automotive logistics group Autologic's turnover dropped 1.3% last year after adjusting for currency effects, though it rose 4.8% to £701.7m in absolute terms. Pre-tax profit from continuing operations fell by 35.4% to £19.9m (2002: £30.8m).

Despite a 'difficult' 2003 which saw the group's restructuring programme in France and Benelux largely completed, Autologic reduced debt by 21.4% to £50.7m, and is maintaining its dividend unchanged from 2002. Autologic is expanding into new ancillary technical and financial services, and moving its core logistics operations into Central European markets such as the Czech Republic.

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