Damco posts considerable increase in air/ocean freight volume

3PL specialist Damco achieved profit gain in the first half of 2011 and announces company acquisition in China:

In its air and ocean freight division the globally active logistics enterprise Damco grew above the market-average in the first six months of 2011. With 610,000 TEU ocean freight the reference figure of the previous year was exceeded by eleven per cent. Air freight volume rose eleven per cent to 65,000 tons. Supply chain management volume declined by two per cent due to the absence of last year’s restocking and weakening consumer demand in North America and Europe. Despite Net Revenue grew 3 per cent to USD 1.372 billion, Damco increased its gross profit by 9 per cent to USD 361 million. EBIT before restructuring costs grew 14 per cent to USD 37 million.

“Our results are encouraging, especially considering the ongoing slowdown of global freight markets. Our bottom-line remains solid and year-on-year we have improved our sales of new business in the first half of 2011 by 37 per cent. We are winning more and more large customers and securing strategically important wins within our key target industry verticals. We expect a continued challenging market for the rest of the year”, Rolf Habben-Jansen, Chief Executive Officer, Damco, says about the current situation.

In August Damco acquired a majority stake in New Times Transportation in China – which shall significantly further strengthen its airfreight division. This makes the enterprise, which employs 9,500 staff, a substantial player in that segment from all main origins in Asia.

Quelle: LogEastics
Portal: www.logistik-express.com