DSV operating profit rises 18pc

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DSV, which is in the process of acquiring Panalpina, increased operating profit (EBIT) for the first half by 18 per cent to DKK 3.1 billion, while revenue was up by six per cent at DKK40.1bn.

Chief executive Jens Bjørn Andersen said:     ”We are very pleased with the strong results for the second quarter of 2019. Global transport markets are soft – especially within air freight, but DSV has managed to outgrow the market while still delivering market leading profitability.

“We expect that the Panalpina transaction will close in Q3 and we look forward to combining two strong companies and leveraging our extensive networks and expertise to provide even stronger customer offerings.”

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