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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