Overall revenues at C.H. Robinson\u2019s Global Forwarding unit were up 8.3 percent, year-over-year, for the first quarter of 2016, to reach US$878 million, but the airfreight forwarding division\u2019s net revenues suffered a 10.8 percent drop. However, when swelling ocean revenues are taken into account, the company\u2019s combined net profit for Q1 rose 11.7 percent, y-o-y, to $119 million.
\nC.H. Robinson blamed the lower air revenues on rapidly falling prices, but during an investor\u2019s conference call, the logistics firm added that air volumes were still up significantly. \u201cRates are down, and they’re volatile,\u201d said company CFO Andrew Clarke. \u201cSo we’re quoting rates to remain competitive in that marketplace.\u201d Robinson\u2019s air shipment count was up 13 percent during the first quarter of 2016, according to Clarke. Reiterating the current market defined by anemic global growth, Clarke described the company\u2019s volume growth as \u201cflat-out taking market share,\u201d given that Robinson\u2019s business with its existing customers is \u201cflat.\u201d
\nMoving forward, C.H. Robinson CEO John Wiehoff was bearish on the prospects of global growth rates picking up, and told analysts that the company will focus on expanding and optimizing its global network, and will also consider new \u201chigh filter\u201d acquisitions.
\nWiehoff added, \u201cWe do have plans to open offices in Europe and Asia that will expand our geographic footprint. There are other parts of the world where we don’t have a presence and work through agents that we think we can continue to grow, as well as optimizing.\u201d
\nCiting the successful integration of previous acquisitions, Wiehoff noted the importance of \u201cbusiness model fit and the cultural compatibility of the types of organizations\u201d in considering new acquisitions. He added, \u201cwe continue to feel that we will be able to add value in the future by finding the right selective M&A deals that come to us with the right level of compatibility and fit into our network.\u201d
\nSource: aircargoworld<\/p>\n","protected":false},"excerpt":{"rendered":"
Overall revenues at C.H. Robinson\u2019s Global Forwarding unit were up 8.3 percent, year-over-year, for the first quarter of 2016, to reach US$878 million, but the airfreight forwarding division\u2019s net revenues suffered a 10.8 percent drop. However, when swelling ocean revenues are taken into account, the company\u2019s combined net profit for Q1 rose 11.7 percent, y-o-y,[…]<\/a><\/p>\n","protected":false},"author":1,"featured_media":1423,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[49],"class_list":["post-1422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-airport-code"],"_links":{"self":[{"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/posts\/1422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/comments?post=1422"}],"version-history":[{"count":0,"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/posts\/1422\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/media\/1423"}],"wp:attachment":[{"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/media?parent=1422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/categories?post=1422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/tags?post=1422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}