Logista have announced a 3.5% decrease in revenues in the first quarter of its fiscal year. The period from October to December 2016 produced €2,283m in revenue, whilst operating profit rose by 1.5%, on Q1 of the previous year, to €35.8m.
Net profit increased by 86.1% to €46.1m for Q1. This was largely down to financial income from the sale of shares in ITB to Banco Intesta Sanpaulo, though previous quarters have also seen increases in net profit for the company.
The Spanish company takes the majority of its revenue from the distribution of tobacco related products across France, Italy and Iberia. Cigarettes distributed fell by 6.2% overall with lower volumes in France and Italy, but there was stability in Iberia. Its largest market is France where total revenue decreased 7.5% on the first quarter of the 2016 fiscal year.