Grupo Logista posts dip in profits

The Spanish logistics provider Grupo Logista reached consolideated net sales of EUR 994.8 million in the first quarter of 2004, a 5.7% increase compared with EUR 941.3 million in 2003. Net profit however slid by 16.7% from EUR 17.3 million to EUR 14.4 million and operating profit (ebitda) sank by 8.3% from EUR 26.94 million to EUR 24.67 million. The loss in earnings was primarily due to a fall in revenue in Grupo Logistas tobacco related business.

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