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Growth accelerates at K+N

October 14 - While Kuehne + Nagel's (K+N) net turnover and gross profit slightly decreased year-on-year in the first nine months of 2015, the company's operational result showed a 4.6 percent improvement.

The earnings for the reporting period also increased by 6.7 percent to CHF512 million (USD535 million).

In the seafreight sector, K+N posted improved profitability, with gross profit per teu up by 4.4 percent and the EBIT-to-gross profit margin improved year-on-year from 30.2 to 32.7 percent.

The company put this growth down to opportunities in the US import business from Europe and Asia, which it says offset market weakness in exports from Asia to Europe.

K+N explained that its overland business reported a "stable" result, with net turnover declining by 12.1 percent due to the discontinuation of a number of projects and lower rates as a result of the decline in diesel prices.

The company's airfreight business showed a volume increase of 5.1 percent in the first nine months of 2015, which K+N attributed to a growing demand for specialised services in the automotive, pharmaceutical, aerospace and perishables industries.

Commenting on the results, K+N ceo Detlef Trefzger said that its performance in the reporting period confirms the logistics provider's market strategy with improved results in a number of business sectors, adding that he believes the group to be "on the right track".

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