Supply chain specialist Gist - a unit of global gas supplier BOC - has celebrated its first year under the new name with a 16% jump in third quarter profit.

As the logistics arm of BOC, Gist saw turnover to June 30 rise to £65.5m from £56.4m last year on the back of "brisk activity" in the food supply chain for Marks and Spencer, as well as new business with Budgens and Waitrose's home shopping service Ocado.

Gist took on new chilled food warehousing and distribution business for M&Spencer during the third quarter and now handles the whole of this activity throughout the UK.