DHL Global Forwarding saw its air cargo volumes and revenues rise in the third quarter led by trades out of Asia, but gross profits came under pressure due to rising rates.
The forwarding business registered an 8.5 per cent increase in air cargo volumes to 445,000 tonnes during the third quarter and revenues improved by 17.2 per cent to EUR1.6 billion (US$1.7 billion).
Meanwhile, gross profits were on the slide and decreased by 15.2 per cent year on year to EUR235 million, according to London's Air Cargo News.
The company said that airfreight gross profits were affected by challenging capacity procurement on specific trade lanes, which would have pushed up the price of buying space on aircraft.
dhl added that as a result of the capacity shortages, it had lowered its operating profit expectations for air cargo during the fourth quarter of the year.
Meanwhile, the express division saw revenues increase by 3 per cent year on year in the third quarter to EUR6.1b billion and operating profits increased by 2.8 per cent to EUR686 million.
Time Definite International (TDI) volumes were down 5.9 per cent on last year and Time Definite Domestic volumes were up 7.1 per cent.
The overall business saw third-quarter revenues increase by 6.2 per cent year on year to EUR20.6 billion, operating profits were up 0.1 per cent to EUR1.4 billion and net profit was down 6.9 per cent to EUR751 million.
SeaNews Turkey
The forwarding business registered an 8.5 per cent increase in air cargo volumes to 445,000 tonnes during the third quarter and revenues improved by 17.2 per cent to EUR1.6 billion (US$1.7 billion).
Meanwhile, gross profits were on the slide and decreased by 15.2 per cent year on year to EUR235 million, according to London's Air Cargo News.
The company said that airfreight gross profits were affected by challenging capacity procurement on specific trade lanes, which would have pushed up the price of buying space on aircraft.
dhl added that as a result of the capacity shortages, it had lowered its operating profit expectations for air cargo during the fourth quarter of the year.
Meanwhile, the express division saw revenues increase by 3 per cent year on year in the third quarter to EUR6.1b billion and operating profits increased by 2.8 per cent to EUR686 million.
Time Definite International (TDI) volumes were down 5.9 per cent on last year and Time Definite Domestic volumes were up 7.1 per cent.
The overall business saw third-quarter revenues increase by 6.2 per cent year on year to EUR20.6 billion, operating profits were up 0.1 per cent to EUR1.4 billion and net profit was down 6.9 per cent to EUR751 million.
SeaNews Turkey
