UNION-TRANSPORT REPORTS 20% EARNINGS RISE
Union-Transport, the international ocean and air
forwarder, said that
net earnings for the six months ending July 31 jumped 20 percent
year-over-year to $7.0 million.
Revenue grew 8 percent to $316.2 million for the forwarder, whose shares are
publicly trade in Luxembourg.
U-T said that business in the first half of its 2000 fiscal year was
strong in the Americas and Asia but weaker in Europe and Africa. The
company expects to record improved results in Europe for the rest of the year.
U-T has been expanding rapidly in recent years through a global
acquisition strategy. Acquisitions and expansion in the first half included
a 55-percent stake in its network partner in Egypt, the remaining 50
percent of its Philippine operation, Sea-Air Transport BV in the
Netherlands and the formation of a new joint venture in Turkey.