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Kuehne + Nagel saw first-half 2017 profit hit the same level as last year, arresting a profit decline in the first quarter, despite being hit by increased operating expenses.
The forwarder recorded an 8.2% increase in first-half revenue to Sfr8.8bn alongside the announcement it had acquired two perishables freight forwarders.
Despite a Sfr668m increase in revenue, which led to a 3.7% increase in gross profit (Sfr3.4bn), net earnings for the period remained stagnant atSfr356m.
This was largely due to increases of 3.6% in personnel costs ...
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