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First quarter growth for Kuehne + Nagel

Swiss transport and logistics group Kuehne + Nagel saw growth in the first quarter and doubled its bottom line, according to financial statement.

The last three months brought growth for Swiss Kuehne + Nagel, a company that competes with, among others, Danish DSV. A new financial statement reports that the group almost doubled its bottom line, to CHF 134 million, up from CHF 68 million in the same period 2012. However, the result from last year was characterized by special items for a total of CHF 65 million, says the statement. Revenue went up to CHF 5.09 million, from CHF 4.83 million.

Kuehne + Nagel increased its container volume by 2.3 percent even though the trade between Asia and Europe was in decline. And in light of the economic situation and the market conditions, the chairman of Kuehne + Nagel, Karl Gernandt, is pleased with the results from the first quarter, while also stressing that the results show that the company's focus on improving the efficiency has been successful, and that it has affected the results in air freights and contract logistics.

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