Wednesday, August 15, 2012

Damco H1 net revenue up 12 percent

Freight forwarder Damco posted a net revenue increase of 12 percent for the first half of 2012 over the same period last year to $1.54 billion.

The company reported gross profit was up 5 percent to $379 million, with earnings before tax and interest for the first half of 2012 up 42 percent to $51 million.

Damco reported its ocean freight volumes increased 9 percent over the same period in 2011. The freight forwarder said its airfreight tonnage growth was 135 percent, due to the inclusion of its acquisition of Chinese air freight forwarder NTS.

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