KNs UK market share rockets

Global airfreight volumes reached a record 818 million tonnes, up 15 per cent while UK tonnages rocketed by 18 per cent, all on organic growth.

EBITDA for airfreight increased by 52 per cent on 2006, to CHF218 million. Overall group net earnings increased by 15.9 per cent to CHF 531 million, but were still less than analysts expected and K+N offered a cautious forecast for 2008.

“While 2007 was characterised by a favourable global economy and strong global trade, forecasts for 2008 are cautious,” said chairman Klaus-Michael Kuehne. “In view of these circumstances, we will intensify our efforts to improve internal processes and optimise cost management.”