Damco revenue growth

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Damco saw its revenue grow by eleven per cent in the first nine months of 2012, compared to the same period last year.

EBIT for the year so far was up six per cent on last year, at 76 million US dollars.

The firm says that so far this year, ocean freight volumes have grown by seven per cent, supply chain management volumes increased by five per cent, and airfreight volumes have been up by 122 per cent, which includes the effect of the NTS acquisition.

In the third quarter it completed the acquisition of Pacific Global Networks which supports its position in Australia and China-Hong Kong.

Chief executive Rolf Habben-Jansen, said: “We have in this period further strengthened the foundation of our business and our results underline that we are moving in the right direction.”

“We are satisfied with our Q3 results, as whilst the overall figures are impacted by one-off costs related to the acquisition of Pacific Network Global Logistics and the relocation of our HQ to The Hague (for which we took a 5 MUSD provision), our underlying trading was ahead of 2011 and in line with our plans,” said Habben-Jansen.

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