BRUSSELS (dpa-AFX) - Swiss logistics firm Kuehne + Nagel Group (KHNGY) reported that its earnings for the first half year 2016 improved by 9 percent to 356 million Swiss francs from last year's 326 million francs.
Detlef Trefzger, CEO of Kuehne + Nagel International AG said, 'The first half of 2016 has been shaped by different regional economic development trends. Global trade showed a lack of growth momentum. Our strategy to focus on organic growth and gaining market shares by offering industry-specific solutions once again led to increases in volumes and results. Our Group delivered a strong performance and has significantly improved gross profit, and therewith increased profit.'
Operating result (EBITDA) for the period grew by 10 per cent to 547 million francs.
EBIT was 455 million francs, up from 410 million francs in the prior year.
Gross profit rose by 8 per cent to 3.26 billion francs in the first six months of 2016 while net turnover slightly decreased to 8.17 billion francs from 8.23 billion francs in the previous year.
Copyright RTT News/dpa-AFX