News / Panalpina stands 'solid' and battles to keep down costs as margins stay tight

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Describing its half-year results today as “not brilliant, but solid”, Panalpina revealed that it has cut its logistics division’s losses this year, but is still suffering from low margins and rate volatility in air and ocean freight.

However, it held costs at “identical” levels to last year, despite significant investment in IT.

While net forwarding revenues for the second half fell nearly 3%, gross profit rose 1.7% to CHF777.9m ($863.1m), while EBIT rose slightly to CHF60.1m from CHF 58.8m. Consolidated profit rose ...