August 23 - The summer has seen a slew of positive results for several multinational freight and logistics groups but the high pressure on margins remains a serious challenge.
Whilst DSV's takeover of UTi Worldwide reduced its profits in the short term, the financial gains from the synergies that ensue will have an impact on its balance sheets over the next three years, it believes.
Its latest half-yearly figures are extremely positive. The Danish logistics provider generated gross profits of DKK8.44 billion (USD1.34 billion), an increase of 7 percent versus the same period last year.
DSV's air and sea division, its most important field of business, also saw significant growth. Both maritime cargo operations as well as its airfreight activities increased their respective volumes by approximately 10 percent.
Meanwhile, Switzerland-based Kuehne + Nagel also completed a strong six months, reporting increased market shares in both the air and the sea freight sectors. The logistics provider increased its gross profits by 3.7 percent to CHF3.38 billion (USD3.5 billion).
Fellow Swiss operator, Panalpina reported mixed results for the first six months of the year. Its gross profits declined by 9 percent to CHF673 million (USD697.55 million), however its airfreight volumes improved by about 7 percent.
