Kuehne & Nagel sees 28% 1st quarter profit rise

Kuehne & Nagel sees 28% 1st quarter profit rise Kuehne & Nagel’s first quarter net income improved 28.2 percent to CHF130.3 million ($107.6 million), compared to CHF101.6 million in the same quarter last year.
   The Swiss forwarding and logistics group’s operating income rose 15.4 percent to CHF229.8 million ($189.8 million) from CHF199.1 million a year ago. Revenue increased 13.5 percent in the latest quarter to CHF4.87 billion ($4.02 billion) from CHF4.29 billion.
   Revenue from Kuehne & Nagel’s main division, sea freight forwarding, gained 11.4 percent year-on-year to CHF2.23 billion ($1.84 billion) after its volume rose 14 percent.
   “We are delighted about the good performance and sustained growth that we achieved across all business units,” said Klaus Herms, chief executive officer of Kuehne + Nagel.
   “Kuehne + Nagel’s business model is proving effective, and our comprehensive offering is meeting the global requirements of our customers. We are confident to be able to continue our dynamic performance.”