150212_Panalpina_Spirit_Atlas_03_6055 rgb (1)
Panalpina

The flower business may have given Panalpina a boost, but the forwarder has been forced to retreat from dwindling oil and gas moves, cutting staff, according to its latest results.

Announcing gross profit of Sfr736.3m ($745.8m) for the first half of this year, broadly flat with last year, according to CEO Peter Ulber the company took a restructuring hit of Sfr26m ($26.3m) to allow it to “realign our capacities with the current volumes and not wait for the market to recover”.

He added: “During ...

Please Register

To continue reading, please login or register for full access to our free content
Loadstar subscriber
New Loadstar subscriber REGISTER

Comment on this article


You must be logged in to post a comment.