DSV's former US acquisition candidate still losing money

US-based freight forwarder UTI Worldwide, which DSV was looking at last year as a potential acquisition candidate, is struggling to turn a profit, noting red numbers on the bottom line.

BY RITZAU FINANS

Published: 04.09.15 at 14:55

UTI Worldwide, which DSV was looking at last year as a possible takeover opportunity, is struggling to turn a profit, noting red numbers on the bottom line.

UTI Worldwide's revenue declined to USD 914 million in the second quarter 2015, from USD 1.09 billion in the same period last year. This came as a negative surprise to analysts, who according to Bloomberg projected a revenue of USD 1.00 billion.