STINNES REPORTS 20% PROFIT GROWTH

STINNES REPORTS 20% PROFIT GROWTH    Stinnes AG, the Germany-based logistics parent of forwarder Schenker, said net income in the first six months of 2000 increased more than 20 percent to 80.2 million euro ($72 million).
   Sales grew 8.5 percent to 6.3 billion euro, while operating profit rose 42 percent to 104.4 million euro, spurred by growth in Stinnes' European land transportation and chemicals business.
   “We have made considerable progress on the way toward achieving our objective of becoming one of the leading logistics service providers worldwide”, said Dr. Wulf H. Bernotat, Stinnes' chief executive officer.
   Stinnes' transportation division, led by Schenker, increased sales 12.3 percent to 2.8 billion euro. Operating profit jumped 33.2 percent to 48.1 million euro.
   Stinnes reported progress in the company's new e-commerce expansion program, including new contracts with paperX.com and GoIndustry.com. Schenker has won e-fulfillment deals with those companies, adding to seven other projects announced last month.
   Stinnes expects that its e-commerce business will generate 1.1 billion euro in additional sales and 60 million euro in pre-tax income by 2004. The company will invest 40 million euro to develop the business this year.