Tuesday 17th Sep 2019 - Logistics Manager Magazine

Sales and profits rise at K+N

First half operating profit rose two per cent at Kuehne + Nagel to reach CHF 511 million, while revenue was up 5.3 per cent at CHF 10.6 billion.

Restructuring in contract logistics continued through the second quarter and EBIT was below last year’s figure at CHF 57 million. Net turnover increased by 4.4 per cent and gross profit by 2.7 per cent compared to the same period of the previous year.

Seafreight and overland continued the growth momentum of the first quarter. In light of the deteriorating market environment, airfreight experienced a decrease in volume. The restructuring in contract logistics proceeded according to plan.

Chief executive Detlef Trefzger said: “Currently our focus is on addressing the significant changes in airfreight market conditions and on continuing our restructuring activities in contract logistics. With our initiatives to improve our technological capabilities we will become more cost effective and improve customer service.”

Work starts on K+N Brussels air freight hub