May 8 - Switzerland headquartered international forwarder Panalpina has achieved a consolidated profit of CHF14 million (USD14.97 million) in the first quarter of 2013 - in Q1 2012 the company reported net loses of CHF41 million (USD43.83 million).

The return to profit comes on the back of Q1 revenues of CHF1.6 billion (USD1.71 billion) - up four percent year-on-year.
According to Panalpina, the air freight division continues to struggle in a shrinking market; overall volumes were down by 3 percent. However, the company's ocean freight division grew strongly - it shipped 7 percent more teu in Q1 2013 than in the year previously.