Transport and warehouse firm Christian Salvesen said on Tuesday it had grown revenues by about 7 percent in the six months to September 30, but some of its markets remained tough.

We are pleased with the progress in our first half revenues and expect to report year on year growth of around 7 percent, with a similar rate of growth expected in the second half, it said in a statement.

Last year, the group reported first half revenues of 402 million pounds and pretax profit of 8.1 million.

Salvesen said many of its markets remained challenging, including the UK where it is trying to improve operating efficiency.

The first benefits will only be seen in the second half, it said.

Its Iberian transport business suffered from lower than expected volumes and increased costs due to the reduced availability of subcontractors.

In our Mainland Europe Food & Consumer business, the productivity gains needed to offset pricing pressure have been more difficult than expected to achieve, it added.

Salvesen shares closed at 74 1/2 pence on Monday, valuing the group at around 198 million pounds.

United kingdom