Airfreight volumes at Kuehne + Nagel have grown at twice the market rate in the first nine months of 2017 with new contracts and acquisitions.
The segment grew 19 per cent to 180,000 tonnes with new business from the pharmaceutical, high-tech and automotive industries.
Kuehne + Nagel says perishables have been very successful, and it acquired Kenyan perishable logistics company, Trillvane in July 2017, which has been part of the Kuehne + Nagel Group since September 2017.
The company says strict cost control and productivity increases due to process automation compensated for margin pressure, and earnings before interest and tax (EBIT) increased 3.2 per cent to 227 million Swiss francs.
Kuehne + Nagel International chief executive officer, Dr Detlef Trefzger says: “The airfreight, overland and contract logistics businesses contributed to significant profitability increases. The business development in the first nine months of 2017 confirms our strategic focus on value-creating solutions and makes us confident to reach our profitability targets we have set ourselves for the full business year.”
Group revenue increased 10.4 per cent to CHF13.5 billion and net profit was up 1.3 per cent to CHF540 million.