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Damco sees revenue and gross profit gains

May 23 - Damco has reported a 6 percent year-on-year revenue increase in Q1 2013 to USD773 million; with gross profit growing 5.4 percent to USD195 million. However, earnings before interest and tax during Q1 2013 totaled USD9 million - down 30.7 percent

Damco was not willing to provide details of its specific performance in the heavy and out of gauge sector of its business, but said that air freight volumes grew by 15 percent over 2012 levels, enhanced by Damco's acquisition of Pacific Network Global Logistics (PACNET) during Q4 2012. However, ocean freight volumes were up only slightly in comparison to Q1 2012 at a growth rate of 1 percent. Damco's supply chain management volume growth grew 10 percent year-on-year in Q1 2013, driven by new customer acquisition and a strong pre-Chinese New Year volume uptake.


Damco ceo said that Rolf Habben-Jansen said that the company has made investments in its business model to make it scalable and to enable further profit growth in the coming years.

Looking ahead, Habben-Jansen explains that Damco will continue to simplify its business and raise operational efficiency. Damco also expects to widen its geographical footprint, expanding its network of offices from 350 to 600 over the next three years.

www.damco.com

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