PANALPINA GROUP SEES RECORD RESULTS IN 2000
The Panalpina Group, the Swiss forwarding and logistics giant, reported record results for its 2000 financial year.
Net income rose 26.6 percent to CHF 92.8 million ($53.2 million), on gross revenues of CHF 6.88 billion ($3.95 billion), up 26.4 percent. Operating income improved 26.3 percent to CHF 130.8 million ($75.0 million).
The Basel-based company credited significant growth in air freight and sea freight business, and expansion of supply chain management services for the improved results last year.
Panalpina will release full results for its fiscal year 2000 on May 4 in Zurich.