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Damco reports continued growth

November 12 - Damco reports revenue growth of 11 percent in the first nine months of 2012, compared to the same period last year.

Year to date gross profit was up by 4 percent to USD 591 million, while EBIT grew by 6 percent to USD76 million.

Damco ceo, Rolf Habben-Jansen said the company has "significantly improved its results from 2009 onwards and this continues into 2012, even if we are in difficult times for the world's freight markets."

So far this year, ocean freight volumes have grown by 7 percent and air freight volumes are up by 122 percent (including the effect of the acquisition of Chinese air freight forwarder NTS of Shanghai). Supply chain management volumes increased with 5 percent.

In the third quarter of this year, Damco completed the acquisition of Pacific Global Networks - a leading freight forwarder in China and Australia - and announced the relocation of its headquarters from Copenhagen to The Hague in the Netherlands, which will take place in the first quarter of 2013.

www.damco.com

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