Forwarding, Freight News
Kuehne + Nagel battles headwinds[ October 19, 2016 // Chris ]
Kuehne + Nagel Group increased gross profit by 6.3% to CHF 4,900 million while net turnover slightly decreased in the first nine months of 2016. Earnings improved 5.1% to CHF 817 million. Earnings for the period increased by 4.1% to CHF 533 million compared to the previous year. Container volume rose 4.5% thanks to increases in the transpacific and intra-Asian trade lanes, particularly reefers.
In airfreight, pressure on margins continued due to shrinking demand and further capacity increases though KN grew its tonnage by 3.8%.
Tags: Kuehne + Nagel