In 2000 UK-based international logistics service provider, Tibbett & Britten Group plc, increased revenues in 2000 by 15 per cent to £1,507m ($2.1bn)(1999: £1,312m, $1.9bn). The group continues to do well in its two home markets of Europe and North America, and is extending partnerships with key customers and sharpening its sector focus.

Operating profits before exceptional items and goodwill amortisation, increased 12 per cent to £42.9m ($60.9m). Profit before tax, goodwill and exceptionals grew 9.5 per cent to £34.6m ($49.2m). On a similar basis, earnings per share increased eight per cent to 47.2 pence.

John Harvey CBE, group chairman and chief executive, said: "North America delivered another excellent performance, with revenues up 22 per cent and profits up 45 per cent. In difficult market conditions, the UK and Irish business also met expectations, with revenues increasing by 11 per cent and operating profits slightly ahead of last year.

"In mainland Europe, revenues increased by 57 per cent, and profits were up 44 per cent. International division revenues also increased by more than 50 per cent, and the division returned to profitability following a turnaround in the South African business.

"The Group is fortunate that its core operations are in a dynamic growth sector, where information technology, macro-economic restructuring, deregulation and privatisation all drive change and accelerate supply chain velocity and transparency.

"We are focused on consumer-related logistics, and are concentrating our energies on developing contractually based supply chain partnerships with major suppliers and retailers. This includes investing in a number of B2B e-commerce initiatives that are expected to eliminate significant cost within the extended supply chain and add value to our customers' operations.

"Overall trading since the beginning of 2001 has been encouraging, and the potential in our two key home markets - Europe and North America - remains strong."

Tibbett & Britten Group is the world's seventh largest logistics service provider and employs 35,000 people in logistics in 33 countries on five continents.