News / 'We took our eye off the ball, making too many changes at once', says UTi chief

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The perils of how a large-scale corporate transformation can undermine a company were graphically illustrated yesterday when US forwarder and contract logistics provider UTi Worldwide released fourth-quarter results that showed sliding revenues and mounting losses.

The company reported an adjusted EBITDA loss of $47m, compared with a slim profit of $2m last year, on revenues of $965m ($1.072bn the year before), amid continuing problems with the implementation of its One View IT system.

New chief executive Ed Feitzinger said that cause of ...