Gefco profits surged by more than 32% last year, despite only marginal gains in revenue.
The company cited a reduction in fixed costs as a key driver of growth in 2016.
Revenues grew just 1.3%, for the second year in succession, to €4.2bn, on the back of strong automotive performances. These gains were reflected in EBITDA, which shot up from €130.8m in 2015 to €172.8m.
A company statement claimed: “Significant improvement in profitability is the result of a policy to optimise purchases and continue to reduce fixed costs.”
Chairman Luc ...
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