French logistics operator Geodis turned a $48.3 million operating profit in 2010, recovering from a loss the year before on a strong rebound in freight forwarding business.
Geodis, a division of French rail operator SCNF, said its revenue soared 31.1 percent last year compared to 2009, to a little more than $9 billion.
Freight forwarding gave Geodis its greatest growth, expanding 50.4 percent over the previous year, with the resurgent air freight business leading the way. Air freight revenue grew 40 percent, Geodis said, on rising pricing and demand, while ocean freight revenue grew 22 percent over the year before.
Geodis, which made a big splash in the industry with its purchase of the entire logistics operation of IBM, lost $55.4 million in 2009 but said actions such as the IBM deal have helped diversify the business. The company for the first time ever got more than 50 percent of its revenue from outside France in 2010.