Kuehne & Nagel's quarterly profit grows

By Freddie Pierce
Follow @WDMEllaCopeland Following a rise in sea and air freight volumes, freight forwarders Kuehne & Nagel have announced a 2.8 percent rise in pro...

Following a rise in sea and air freight volumes, freight forwarders Kuehne & Nagel have announced a 2.8 percent rise in profits. Earnings before interest and taxes have risen by 5 million Swiss Francs in the last year, according to an emailed statement from the Switzerland-based company.

 

The profit rise has been attributed to the volume increase in sea freight and air freight along with intensified cost management. Sales were up 12.4 percent on the third quarter of last year, whilst earnings before interest and taxes improved by 3.1 percent.

SEE RECENT STORIES FROM THE WDM CONTENT NETWORK:

In an online statement, the company displayed a growth of 6 percent in the sea freight sector  during the third quarter, despite a slowdown in market growth. In addition Kuehne and Nagel increased its airfreight tonnage by 3 per cent in the third quarter in the face of flattening market demand.

 

“The improvement of results in the third quarter makes us confident of reaching the profitability targets we have set ourselves for the full business year 2012,” said Reinhard Lange, CEO of Kuehne + Nagel International AG. “Intensified cost management as well as a continuous improvement of the services for our customers will be the foundation for profitable growth.”

  

Share

Featured Articles

Women in supply fare better in large firms - Gartner report

Annual Gartner report on women in supply chain workforce shows there are more women in C-level positions, nut that females in VP supply roles has fallen

What can be done to avert food catastrophe foreseen by UN?

UN's Antonio Guterres warns Ukraine war is causing global food supply crisis, but problem is compounded by rail logistics and poor food supply chains

UST's Colehower shares supply risk insights in webinar today

Procurement guru David Loseby and Jonathan Colehower of UST share insight on using technology, both to mitigate supply chain risk and to gain visibility

Why today 3PL providers are 'perfect supply partners'

Logistics

SMBs 'are investing heavily in safeguarding supply chains'

Logistics

Accenture Euro ops chief offers Ukraine supply chain advice

Supply Chain Risk Management