Higher freight rates boost logistics operator NTG's results

After doubling its operating earnings in the first quarter of 2021 compared to the same period last year, freight forwarder and logistics company NTG maintains its upgraded full-year guidance, corresponding to USD 58.99-65.55 million.

Photo: PR / NTG

Danish shipper and logistics company Nordic Transport Group A/S (NTG), chaired by former Maersk Line Chief Executive Eivind Kolding, benefited from strong tailwind in the first quarter of this year, during which the group doubled its operating result against the same period of 2020, the group writes in its first-quarter interim report.

NTG books top line growth of 17.6 percent for the first three months of 2021, landing at DKK 1.54 billion (USD 250 million), covering 11.4 percent in organic growth mainly driven by higher freight rates within the Air & Ocean division.

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