Top forwarders all set for cash flow boost as earnings sag
When being flush is bad
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By Alex Lennane
Announcing that profits were up by more than 40% last year, DSV said today its integration with UTi was going well.
The group’s results show 2016 gross profit up 41% year on year, at Dkr15.8bn ($2.26bn).
However, it saw weaker-than-expected growth in Air & Sea and Road, according to analyst Jefferies.
Operating profit for Air & Sea rose 11% to Dkr2.1bn, while Road grew 14% to Dkr1bn. Solutions, its warehousing arm, saw greater growth, albeit from a lower point, up 58% to Dkr384m.
The company also reported that the ...
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