Grupo Logista reports steady 9-month results

Grupo Logista has announced its financial results for the first nine months of the 2015 financial year. It reported revenue of €6.93bn for the period, an increase of 1.2% year-on-year. The company recorded EBIT of €110.5m, an increase of 17.5% on the prior comparable period. Accordingly Grupo Logista’s margin stood at 1.59%.

During the nine month period the group kept improving the profitability of its operations, raising sales of convenience products and services to points of sale and an improving its operating efficiency.

The company recorded a rise in revenue despite lower sales of tobacco products. The volume of cigarettes distributed by Grupo Logista decreased by 1.2%, reducing the rate of decline in Spain and France, while loose tobacco distributed rose by 1.8%.

The company reported growth in wholesale distribution of convenience products to tobacconists in Spain and Italy, in the Transport area and in Other Businesses in Spain and Portugal, particularly in Logista Pharma, while there were declines in the distribution of products and services in France. These effects offset the decline in volumes.

The improvement in EBIT was primarily attributed to a reduction in operating costs.