Latest news from Heavy Lift & Project Forwarding International Magazine

K+N turnover down, profit up

July 25 - Kuehne + Nagel International (K+N) posted a slight decrease in turnover for the first six months of 2016, while it recorded an 8 percent increase in gross profit to CHF3.25 billion (USD3.29 billion).

The company's operating result (EBITDA) grew by 10 percent year-on-year in the reporting period to CHF574 million (USD581 million).

In its seafreight business, K+N increased container volumes handled by 5.8 percent year-on-year; while the company grew its airfreight tonnage by 1.3 percent in the reporting period.

"The first half of 2016 has been shaped by different regional economic development trends. Global trade showed a lack of growth momentum," commented K+N ceo Detlef Trefzger.

Trefzger stated that the logistics provider's "strategy to focus on organic growth and gaining market share by offering industry-specific solutions" led to its improved gross profit in the first half of 2016.

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