News

Logistics company TDG has reported a 19% increase in pre-tax profit to £6.9m for the six months to 30 June.

The company, which also provides contract packing services, reported that turnover increased by 16% to £371m in the first half of the year.

It recorded an operating profit of £9.2m in the period, an increase of 15%.

In July the TDG board announced a recommended cash offer for the business by LIT - a newly incorporated company formed at the direction of TDG's largest shareholder Laxey Partners.

Chief executive David Garman said: "These result have been achieved despite the distraction of being in an offer period and this is a credit to all our employees.

"There remains considerable uncertainty over economic conditions but we continue to expect our operations to make further progress in 2008."

TDG employs 7,000 staff in the UK, Ireland, Germany, Spain, Holland and Belgium.

Its clients include SCP Packaging, Nampak, BASF, Bayer and Kimberly-Clark.