LOGISTICS provider Damco says its air freight volumes more than doubled in the first quarter of this year to 40,000 metric tonnes compared with 17,000 during the same period last year.
The company reported a “highly satisfactory volume growth of 37 per cent” and revealed the China-based forwarder, NTS, – which it acquired last August – had contributed to its success despite the decline in demand.
“I am pleased to see that we are making good progress under difficult market conditions,” says Damco’s chief executive officer, Rolf Habben-Jansen.
“Our growth bears testament to the resonance our supply chain services are finding with customers.”
The company also reported an eight per cent hike in net revenue to US$738m compared with $685m last year.
Its gross profit climbed eight per cent to $190m from $175m.