Like its fellow Swiss-based rival Panalpina, freight forwarder Kuehne + Nagel ended up with a tidy profit at the end of 2015, in spite of a stagnant cargo market. But unlike Panalpina, which saw a 2.5 percent decline in air cargo volume, K+N\u2019s success came largely from a 4.7 percent increase in airfreight demand top 1.2 million tonnes.
\nProfitability improved thanks to the \u201ceffectiveness of our efficiency program,\u201d K+N said, causing net earnings to rise by 5.4 percent to $684 million, compared to 2014. The year-end results, the company said, \u201creaffirmed its position\u201d as the second largest global airfreight forwarder.
\n\u201cA key factor in the good performance was the focus on industry-specific airfreight solutions, which led to significant business wins in the pharmaceutical, aerospace and perishables sectors,\u201d the company said.
\nNot everything went smoothly for K+N, however, as revenues fell by 4.4 percent in 2015 to US$20.5 billion, which were affected by a strong Swiss franc, the company said. \u201cWe are proud that in a challenging environment we were able to further increase profitability and once again achieve a new record result,\u201d said K+N CEO Detlef Trefzger.
\nK+N added that its FreightNet online booking portal, which provides cargo tracking and instant quotes for airfreight services, also proved to be \u201can effective new sales channel.\u201d
\nSource: aircargoworld<\/p>\n","protected":false},"excerpt":{"rendered":"