Damco drives ahead
25 / 05 / 2012
FREIGHT forwarder Damco’s airfreight tonnage increased by 23 per cent in the first nine months compared to the same period of 2010.
Business picked up following the acquisition of China-based NTS.
Supply chain management volumes were three per cent lower than in the same period in 2010 due to a relatively weak consumer demand in North America and Europe.
Net revenue was up six per cent to US$2.16bn in the first nine months and gross profit increased eight per cent to $567.7m compared with same period last year.
"The traditional annual peak season in the third quarter was rather muted this year," Rolf Habben-Jansen, chief executive officer of Damco, says.
"Our result for the quarter is quite satisfactory given these difficult market conditions and the conscious investments we made in growth."