Airfreight bolsters Expeditors’ figures
20 / 03 / 2015
A ten per cent year on year increase in airfreight net revenues contributed to a strong 2014 fourth quarter for US forwarder and logistics company Expeditors.
The Washington-based company said its net earnings had increased 19 per cent in the quarter, to almost $99.4m, compared with $83.5m in the same period of 2013.
Ocean freight net revenue was also up, by 11 per cent, while overall net revenue increased by nine per cent.
Senior vice president and chief financial officer, Bradley Powell, described the results as “a great affirmation of our efforts to date. We’ve worked steadily to improve our performance throughout 2014.”
President and chief executive Jeffrey Musser added that the double digit growth in air and ocean freight net revenue had come “at a very opportune time,” “particularly…in light of a global economy that still struggles to gain traction.”
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