Freight News

Better at Panalpina

[ October 21, 2014   //   Chris ]

International forwarder Panalpina said it maintained overall profitability in the first nine months of 2014. Undeterred by ongoing restructuring, group gross profit and EBIT both increased 1% (currency adjusted +6% and +4%), to CHF 1,178.7 million and CHF 94.4 million respectively. Losses in Logistics were “reduced drastically” to CHF 6.9 million for the period ocompared with -CHF 26.8 million in the same period of 2013. Air Freight and Ocean Freight volumes grew 4% and 8% year-to-date, but unit profitability decreased due to margin pressure and currency effects.

Tags: Panalpina