Kuehne + Nagel International earnings up 30pc through September

SWITZERLAND's global forwarding giant, Kuehne + Nagel Group, increased earnings 29.9 per cent to CHF408 million (US$350 million) in this first nine months of the year while turnover was up 15.7 per cent to CHF15.3 billion, according to a company statement.

Sea freight performed "exceptionally well", said the company, recording a 16 per cent rise in volume, despite a seven to eight per cent slowdown in market growth.

"Thanks to its capacity management, Kuehne + Nagel was able to increase container volumes in the booming Asia-Pacific trade lanes," said a company statement. "Demand for the company's IT-based services increased worldwide, especially in Australia, New Zealand, Central America and Eastern Europe.

The EBITDA margin remained stable at 4.2 per cent. The operational result improved 15.2 per cent, year-on-year, said the company release.