Kuehne + Nagel reports Ã¢â‚¬Å“very satisfactoryÃ¢â‚¬Â Q3
Kuehne + Nagel has released its financial figures for the first nine months of 2009 saying it had achieved Ã¢â‚¬Å“very satisfactoryÃ¢â‚¬Â results due to the Ã¢â‚¬Ëœearly, consistent implementationÃ¢â‚¬™ of its dual strategy of strict cost management and commitment to market-share expansion. Total net revenues fell by 23 per cent to CHF10.94 billion (US$10.66 billion). Gross […]
November 1, 2009
The international airfreight market saw a slight improvement in tonnages in the third quarter; therefore, overall cargo decrease slowed to 17 per cent in the first nine months of the year. Compared with the second quarter, Kuehne + Nagel increased tonnage by 7 per cent in the third quarter. However net revenues tumbled by 37 per cent in the period compared with 2008.
The international seafreight market was characterised by significant volume declines; the third quarter, however, saw the first signs of recovery, it said.