Kühne & Nagel posts strong first half-year result

Kühne & Nagel has performed well in the first half of the year Keystone

The Kühne & Nagel transport and logistics group is continuing its impressive growth. The company on Monday announced that profit for the first six months of the year jumped by 43.6 per cent over the comparable period last year to reach SFr82.7 million ($47.8 million).

A statement from the group’s headquarters at Schindellegi in canton Schwyz said gross profit rose by 10.9 per cent to SFr764.9 million.

The result confirmed the group’s leading position in the global forwarding and logistics market, the company said, and emphasized the value of its global network.

The International Forwarding business unit once again had the strongest showing, the company said.

The sea freight and air freight businesses showed a steady increase in performance. The favourable trend in development of the Contract Logistics business unit continued after the company eliminated unprofitable activities.

In its outlook, management said that despite the unstable economic environment, it expected the group to achieve a new record result in excess of SFr140 million.

Kühne & Nagel, which employs 17,000 people in more than 90 countries, reported a record profit for last year of SFr125.9 million.

swissinfo with agencies