Kuehne + Nagel sees record 3rd quarter

Kuehne + Nagel sees record 3rd quarter    Kuehne + Nagel Group said it had record third quarter profit of 449 million Swiss francs ($468 million), 16 percent more than the CHF 387 million earned in the same 2009 period.
   Revenue for the quarter ending Sept. 30 was CHF 15.2 billion 18.6 percent more than CHF 12.8 billion in the third quarter 2008.
   The company said global sea freight grew 17 percent in the first nine months, but softened in the third quarter. The Swiss logistics company said “increased sales and marketing activities contributed significantly to further market share gains.
   Air freight tonnage was up 29 percent in the first nine months, but the company growth in the international air freight market slowed in the middle of the year. Kuehne + Nagel said it was “able to considerably increase volumes and market share, especially in the trade lanes from and to Asia.”
   In the first three quarters of the year, it said road and logistics registered a growth in net turnover of 9.5 percent.
   “The recovering domestic economies of the leading industrial nations led to a stabilization of the contract logistics market,” and that revenues remained at 2009 levels, K + N said.