Schindellegi, Switzerland: Swiss logistics giant Kuehne and Nagel saw group operating profit increase by 9.2% to US$277 million (CHF 249m) in the first quarter of 2011 compared with last year. The group’s airfreight business benefited from Kuehne and Nagel’s expansion of the specialised network for perishables.
Following the recent acquisitions of three companies in South America, volumes significantly increased in this sector. Chief executive Reinhard Lange said: “It is difficult to forecast the world economic development in the months to come. We are confident that our resilient integrated business model will support the continuation of our strong performance,” said Reinhard Lange, chief executive of Kuehne and Nagel International.
“As planned we expanded our activities in all business units while at the same time increasing productivity.” He added: “The good results in the first quarter underline the value of our global logistics capabilities, flexibility and operational efficiency in a market influenced by different economic conditions, political unrest and natural disasters.”
In January, Kuehne and Nagel acquired three South American companies, expanding its perishables transportation and logistics network. The company acquired Translago and Agencia de Aduanas Excelsia of Colombia and Mastertransport of Ecuador. The South American companies specialise in transporting flowers and other perishable goods to the US, Europe and Asia, Kuehne and Nagel said.
