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Jefferies: DSV leaves competitors in the wake

DSV's interim report confirms that the group is the best performing freight forwarding company in Europe, with the highest profitability and strongest earnings, according to investment bank Jefferies.

Danish transport and logistics group DSV published a strong half-year result on Tuesday which shows the company widening the gap to its major European rivals, Swiss Kuehne+Nagel and Panalpina, notes investment bank Jefferies in a comment on Wednesday after the three large freight forwarders have published their half-year results.

"The recent freight forwarders’ reporting season reflected relatively strong 7 percent sector EBIT growth, with improving profitability, despite sluggish and volatile volume growth, and confirmed DSV is the best-in-class freight forwarder, enjoying the highest profitability and strongest earnings momentum. DSV remains our top pick in the sector, while we remain relatively more cautious on Kuehne+Nagel and Panalpina," states Jefferies.

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