Panalpina beat the market on ocean freight in Q1

Swiss Panalpina delivered an improved operating profit in the 1st quarter 2015, while revenue declined. Slightly improved results in ocean freight contributed to the result.

Photo: Kuehne Nagel

Switzerland-based logistics group Panalpina achieved an improved operating profit in the first three months of the year in spite of challenges related to the Swiss decision to abandon the country's fixed currency rate policy.

The operating profit came to EUR 25.3 million, compared to EUR 24.5 million in the same period 2014, while revenue declined to EUR 1.46 billion from EUR 1.55 billion in the 1st quarter the year before, according to the company's interim report, published Wednesday.

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