Following an adjustment to its contract logistics strategy in 2013, after a volatile year for the sector in 2012, Kuehne + Nagel has recorded year-on-year growth of 8.1 per cent for the first nine months of 2014 in its contract logistics division.
The Switzerland based logistics firm also reported growth of 5.4 per cent in net turnover for the contract logistics division. Kuehne + Nagel has been adjusting its contract logistics strategy in response to the volatility of international contract logistics markets. It is focusing on complex and scalable solutions, and it has been targeting automotive, aviation, consumer goods, high-tech and pharmaceutical sectors.
The results were released alongside nine-month figures for the whole firm, which has recorded 8.6 per cent growth in earnings, up from £364m (CHF561m) in 2013 to £394m this year.
Dr Detlef Trefzger, Kuehne + Nagel CEO, said: “Part of our organic growth strategy is to concentrate on internationally operating customer groups, profitable growth and selective market share expansion.”
Volumes grew in the air and sea freight divisions by eight per cent and three-four per cent, respectively.