Freight News, Logistics

Panalpina profits ‘steady’

[ July 24, 2015   //   ]

Freight forwarding and logistics company Panalpina said on 23 July that it had kept profitability stable in the first half of 2015 despite a challenging environment. While the group’s gross profit decreased 5% (adjusted at constant currency rates: +2%) to CHF 736.1 million, earnings before interest and tax and consolidated profit remained stable, reaching CHF 60.4 million (+0.4%; adjusted: +7%) and CHF 45.3 million (+3%; adjusted: +10%), respectively. EBIT was up in ocean freight but down in air freight. Logistics reported a positive EBIT of CHF 1.5 million for the half-year, after a loss of CHF 4.3 million for the same period of last year.