Air, Business, Freight News, Logistics, Sea

We’re doing OK says Damco

[ May 23, 2013   //   ]

Damco – the forwarding arm of the AP Moller Maersk Group – reported a “satisfactory” performance in the first quarter of 2013. It had a 6% increase in net revenue at $773 million , compared to $728 million in 2012. But earnings before interest and tax (EBIT) was only $9 million, compared to $13 million in 2012. Airfreight volumes grew 15% over 2012 well ahead of the market, said the company, and supply chain management volume growth accelerated further to 10%.