European growth could send DSV soaring

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A summary of Danish forwarder DSV’s annual results, released yesterday. The financials are pretty flat – reflecting much of the market last year. However, a 12% year-on-year rise in sea freight volumes in the last quarter points the way to brighter times ahead. However, chief executive Jens Andersen is not banking on a full-scale recovery just yet, particularly in DSV’s core European markets, and a further round of cost-cuts is on its way.