Panalpina With Solid Half-year And Plenty Of Work Ahead

Panalpina with solid half-year and plenty of work ahead

Jul 22, 2014

International freight forwarding and logistics company Panalpina improved overall profitability in the first half of 2014. Group gross profit and EBIT, which were significantly impacted by currencies, both increased 2%, reaching CHF 777.9 million and CHF 60.1 million respectively. Logistics contributed to the solid results by cutting losses and expanding its value-added services. Air Freight and Ocean Freight volumes grew 4% and 8% respectively, but unit profitability was affected by a challenging market environment in the same period.