News / DSV and K+N see margins squeezed hard in third quarter

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Two of the largest global freight forwarders, DSV and Kuehne + Nagel, have reported Q3 results that indicate similar pressures on margins – although the Danish 3PL appears to manage the squeeze better.

A strong performance from K+N’s sea freight division saved the Swiss group from a quarter of year-on-year decline.

The group’s ocean division experienced a year-on-year gross revenue surge of 31.7% in Q3, hitting CHF2.9bn ($3.35bn), a marked contrast to first- and second-quarter dips of 27.1% ...