SWISS logistics giant Kuehne + Nagel has posted a year-on-year 8.6 per cent profit increase in the first nine months of 2014 to CHF480 million (US$505.4 million), drawn on revenues of CHF13 billion, which increased 4.7 per cent.
A breakdown of the results of the world's biggest forwarder show that sea freight volumes over the reporting period amounted to 2.9 million TEU, up eight per cent year on year.
A company statement said that generating larger volumes in South America "was rather slow". Import activities into the US increased, and it gained additional market share in the European and North American import business.
The situation in the international air freight market stabilised with volumes growing between three and four per cent. Tonnage rose five per cent, representing 40,000 tons, during the first nine months year on year.
"Increased volumes in the European export business and strong growth of specific services for customers from the automotive, pharmaceutical and aviation industries contributed to keep momentum high. The perishables business grew, especially in the South American trade lanes," the release said.
With regards to contract logistics, it said the reshaping of the project portfolio towards focusing on complex and scalable solutions is proving effective.
"Target industries include automotive, hi-tech, aviation, pharmaceuticals and consumer goods. In addition, the concentration on end-to-end solutions generated new and profitable projects for key accounts."
"Part of our organic growth strategy is to concentrate on internationally operating customer groups, profitable growth and selective market share expansion," said CEO Detlef Trefzger .
"Additional key success factors include our strict cost control and the continuous enhancement of innovative solutions," he said.
WORLD SHIPPING
15 October 2014 - 20:18
Kuehne + Nagel's January-September profits rise 8.6pc to US$505 million
SWISS logistics giant Kuehne + Nagel has posted a year-on-year 8.6 per cent profit increase in the first nine months of 2014 to CHF480 million (US$505.4 million), drawn on revenues of CHF13 billion, which increased 4.7 per cent.
WORLD SHIPPING
15 October 2014 - 20:18
Kuehne + Nagel's January-September profits rise 8.6pc to US$505 million
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