DAMCO bosses have credited air cargo for playing a role in positive half-year results.
The European freight forwarding and supply chain management firm has reported “significantly improved” results for the second half of 2012 despite “tough conditions in global freight markets”.
Damco’s net revenue grew by 12 per cent to US$1,543m and gross profit is up five per cent to US$379m.
In the first half of 2012, Damco’s airfreight tonnage grew 135 per cent. The performance includes the effects of the acquisition of the Chinese forwarder NTS, but the underlying growth was still 42 per cent a spokesman added. Ocean going freight expanded by nine per cent.