Kuehne & Nagel turnover down in volatile market

Zurich, Switzerland: Kuehne & Nagel reported a 1.1% increase in nine-month net earnings but said market volatility is high and the fourth quarter is likely to be demanding.

Turnover in the first nine months decreased 3.8% to CHF14.59bn.  Net earnings increased 1.1% to CHF454m.

Reinhard Lange, chief executive said: “Considering the softening market growth, we are satisfied with our results in the first nine months of 2011.

“Volatility is high and the fourth quarter is expected to remain demanding,” he said.

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