• ITVI.USA
    15,433.470
    55.400
    0.4%
  • OTLT.USA
    2.727
    -0.016
    -0.6%
  • OTRI.USA
    20.850
    0.030
    0.1%
  • OTVI.USA
    15,408.360
    58.320
    0.4%
  • TSTOPVRPM.ATLPHL
    3.280
    -0.020
    -0.6%
  • TSTOPVRPM.CHIATL
    3.190
    0.050
    1.6%
  • TSTOPVRPM.DALLAX
    1.560
    -0.030
    -1.9%
  • TSTOPVRPM.LAXDAL
    3.420
    0.090
    2.7%
  • TSTOPVRPM.PHLCHI
    2.220
    0.050
    2.3%
  • TSTOPVRPM.LAXSEA
    4.080
    0.000
    0%
  • WAIT.USA
    126.000
    1.000
    0.8%
  • ITVI.USA
    15,433.470
    55.400
    0.4%
  • OTLT.USA
    2.727
    -0.016
    -0.6%
  • OTRI.USA
    20.850
    0.030
    0.1%
  • OTVI.USA
    15,408.360
    58.320
    0.4%
  • TSTOPVRPM.ATLPHL
    3.280
    -0.020
    -0.6%
  • TSTOPVRPM.CHIATL
    3.190
    0.050
    1.6%
  • TSTOPVRPM.DALLAX
    1.560
    -0.030
    -1.9%
  • TSTOPVRPM.LAXDAL
    3.420
    0.090
    2.7%
  • TSTOPVRPM.PHLCHI
    2.220
    0.050
    2.3%
  • TSTOPVRPM.LAXSEA
    4.080
    0.000
    0%
  • WAIT.USA
    126.000
    1.000
    0.8%
American Shipper

KUEHNE & NAGEL SEES 27% RISE IN HALF-YEAR PROFIT

KUEHNE & NAGEL SEES 27% RISE IN HALF-YEAR PROFIT

   Kuehne & Nagel reported a 27-percent increase in group net profit for the first six months of the year, to 58 million Swiss francs ($34 million), as compared to SFr45 million for the same period last year.

   Operating profit was up by 35 percent, to SFr94 million ($55 million), and group turnover (revenues) rose by 26 percent, to SFr3.8 billion ($2.3 billion).

   Kuehne & Nagel’s ocean freight division had a first-half operating profit of SFr46 million ($27 million), up 24 percent, on revenues of SFr1.6 billion ($973 million), up 27 percent. The airfreight division posted an operating profit of SFr28 million ($17 million), up 42 percent, on revenues of SFr868 million ($512 million), up 27 percent.

   The group’s operating margin as a percentage of revenues increased from 2.3 percent to 2.5 percent, helped by higher margins on airfreight and European overland traffic activities.

   Kuehne & Nagel said that nearly all regions and divisions of the group contributed to its improved results for the first half of the year.

   The Swiss-based forwarding group said that its investments in fixed assets in the first six months amounted to SFr50 million ($30 million), 45 percent more than in the same period in 1999.

   Kuehne & Nagel expects its profit for the full year to exceed SFr110 million ($65 million).

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