News / K+N eyes more cost-cutting after first-half profit and market share declines

ID 115662365 © Björn Wylezich | Dreamstime.com

Kuehne + Nagel (K+N) vowed to continue to cut costs after reporting weak second quarter and first half 2024 results that failed to impress investors.

Group-wide revenues declined 9% year on year, to finish the first half at SFr11.6bn ($13bn), while EBIT was down 32%, to SFr778m, and net profit down 33%, to SFr576m.

The company said the “result was impacted by negative exchange rate effects of 2% in the first half of 2024 and non-recurring restructuring costs of SFr17m in the ...