Damco reports positive third quarter
Damco has announced continued growth in the third quarter of 2011. Year-to-date, Damco’s ocean freight volumes increased 14% compared with the same period in 2010 – well above the market average.
Air freight tonnage increased by 23% in the first nine months compared to the same period of 2010, which was above the general market and lifted through the acquisition of China based NTS. The supply chain management volumes were 3% lower than in the same period in 2010 due to relatively weak consumer demand in North America and Europe.
Net revenue was up 6% to $2,156m in the first nine months, gross profit increased 8% to $567.7m compared with same period last year. Year-to-date the EBIT result comes to $73.2m, virtually unchanged from $73.1m for same period last year.
"The traditional annual peak season in Q3 was rather muted this year. Our result for the quarter is quite satisfactory given these difficult market conditions and the conscious investments we made in growth" said Rolf Habben-Jansen, Chief Executive Officer.
Quelle: eyefortransport
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