Kuehne + Nagel sees substantial increase in profit
The global logistics corporation Kuehne + Nagel (K+N) improved its results in the first nine months of the current, despite the limited growth in volumes. However, K+N stated that the development in seafreight, its strongest business field, stagnated in Q3/2013. Now for the figures in detail: the turnover rose to CHF 15.71 billion between January and September this year, a 1.5% increase compared to the same period a year ago. Gross profit increased by 2.8% to CHF 4.69 billion, earnings before interest and tax leapt by 21% to CHF 561 million and the net profit jumped by 24% to CHF 442 million. The sharp increase in this year's nine month profit is mainly due to the fact that last year’s earnings were impacted by a CHF 65 million cartel fine that was imposed by the European Union.