First half profits for Kuehne + Nagel have grown by 9.6 per cent with the airfreight division posting “successful” results.
Net turnover for the group was up 14.2 per cent to 10 billion Swiss francs (CHF), with earnings for the period increasing 9.6 per cent to CHF390 million.
The airfreight division has been performing well, continuing its strong performance from the previous quarters.
Tonnage increased by 18.1 per cent to 863,000 tonnes, and earnings before interest and tax rising by 20.5 per cent to CHF182 million, with industry specific solutions making important contributions.
Kuehne + Nagel International chief executive officer, Dr Detlef Trefzger says: “We achieved strong volume growth across all business units. This growth combined with active cost management delivered a significant improvement in results confirming the consistency of the implementation of our business strategy. Our high level of industry-specific competence and our digital solutions are key factors here.”
He says Kuehne + Nagel is monitoring volatile markets and geopolitical developments “very closely”, but despite the environment, the company is ambitious as it enters the second half of the year.
Chairman of the board of directors, Dr Jorg Wolle adds: “We demonstrated our performance strength yet again in the first half of 2018 and have established a solid basis for the second half of the year. Kuehne + Nagel’s agility and efficiency make us confident that the positive development of the company will continue.”