Interbulk seeking job losses to cut costs

Chemicals transportation group Interbulk is seeking to trim its headcount after being hit by a slowdown in activity among its European clients.

The East Kilbride-based firm said it has put in place a redundancy programme at its dry bulk division in a bid to save £900,000 a year.

Chief executive Loek Kullberg said profits and revenues for the six months to 31 March would be lower than a year ago, despite a fall in interest payments due to a reduced debt pile.

Interim results are due in mid-June, and Kullberg said: “Whilst external market conditions remain somewhat unpredictable, especially in Europe, with continued focus on our controllable costs we expect to deliver an improved second-half performance.”