February 13 - DSV has reported a net revenue increase of 39.8 percent in the fourth quarter of 2016, amounting to DKK17.6 billion (USD2.5 billion), which DSV claims is largely due to the acquisition of UTi Worldwide.

The acquisition also had a similar impact on gross profit, which saw a 41.3 percent increase in the fourth quarter to DKK3.99 billion (USD570.745 million), in comparison to DKK2.83 billion (USD404.797 million) in the fourth quarter of 2015.

Jens Bjørn Andersen, ceo, said: "While maintaining momentum in our integration efforts in 2016, we kept focus on running the business, leading to very satisfactory results in all divisions. We expect to complete the integration of UTi and continue to take market share in 2017 creating earnings growth of 21 - 29 percent."

Freight volume growth for the quarter was 86 percent for air freight, 56 percent for sea freight and 5 percent for road transport (Europe).

The net revenue for 2016 reached DKK67.7 billion (USD9.7 billion) with the gross profit exceeding DKK15 billion (USD2.27 billion).

DSV's outlook for 2017 foresees an operating profit, before special items, to be in the range of DKK4.2 - 4.5 billion (USD600 - 640 million), in comparison to the 2016 operating profit of DKK3.47 billion (USD495 million).