UTi Worldwide reports strong Q1

US logistics player UTi Worldwide’s first quarter revenues grew 13.6 per cent compared to the same period a year before.

Increased airfreight volumes, higher fuel surcharges, which the company passes through to clients, and greater contract logistics activity all contributed to the results.

“Contract logistics and distribution revenues were higher in the first quarter due to an increase in existing business activity and new business. Net revenue per unit of cargo also increased in the first quarter, reflecting declines in carrier spot rates compared to the same period last year,” Eric Kirchner, UTi chief executive officer, said.

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