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DSV earnings droop

[ April 27, 2023   //   ]

DSV reported s gross profit down 11% in its first quarter results, while earnings before special items declined by 28% compared to the strong results for the same period last year. The Air & Sea forwarding division reported a 31% decrease in earnings, due to lower freight volumes compared to 2022. The Solutions division also experienced reduced activity, reporting a 31% decline in earnings. However, the performance of the Road division was positive, with results on par with the same period last year.

The company said the economic slowdown and normalising market conditions after years of disruption have had a significant impact on global trade volumes. However, it expects global trade volumes to gradually improve in the coming quarters.

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