News / Panalpina well prepared for strong peak season after a mixed Q3

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A rise in staff costs hit Panalpina’s third-quarter profits, despite a 13% jump in revenue a year into Stefan Karlen’s reign as chief executive.

The company reported pre-tax three-month profits of Sfr29.6m ($30.2m) down from Sfr32.4m a year ago, with personnel expenses for the period up 2% year-on-year.

While year-to-date profits remained up on 2016, at Sfr48m compared with Sfr46.5m, this was largely down to a strong second quarter after the first three months took a beating on margin pressures.

“Nine months into the year, ...