LUXEMBOURG global forwarder Logwin posted year-on-year 109 per cent operating profit increase in 2014 to EUR25.1 million (US$27.2 million), drawn on revenues of EUR1.12 billion, which fell 7.9 per cent.
"Encouraging growth rates were recorded in the sea freight. The business segment Air + Ocean improved its operating result 15.2 per cent to EUR31.2 million, increasing the operating margin to 4.8 per cent," said a company statement
An especially strong improvement in margins was achieved in the south east Asia region.
Air and sea freight generated revenues of EUR648.1 million, 4.8 per cent on 2013.
In 2015, Logwin expects moderate growth for both business segments due to targeted sales activities with new and existing customers.
Based on the increase in revenues and ongoing measures to increase efficiency in the Solutions business segment, the Logwin Group aims at a further improvement in net result in 2015.
Logwin AG provides logistics and transport solutions employs 4,300 staff 180 locations on six continents.
WORLD SHIPPING
10 March 2015 - 10:31
Logwin profit up 109pc to US$27.2 million as revenues slip 7.9pc
LUXEMBOURG global forwarder Logwin posted year-on-year 109 per cent operating profit increase in 2014 to EUR25.1 million (US$27.2 million), drawn on revenues of EUR1.12 billion, which fell 7.9 per cent.
WORLD SHIPPING
10 March 2015 - 10:31
Logwin profit up 109pc to US$27.2 million as revenues slip 7.9pc
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