UPS to cut 20,000 jobs in network reconfiguration
And so it starts. UPS, while announcing a better-than-expected profit, also enthused investors with its ...
© Khunaspix Dreamstime.
By Alex Lennane
Shipper misery has so far emanated from shipping lines and their record profits – but forwarders are also ’making hay while the sun shines’.
Today’s record profit is at Geodis, which saw revenues of €4.8bn ($5.7bn) in the first half, up 21% on 2020 and 20% up on 2019.
Ebitda was up 60%, to €458m, and the cash is being spent on reducing debt by €123m – and financing acquisitions, said the SNCF-owned forwarder.
“These solid results support our ability to invest in ...
Comment on this article