News / Strong first half for K+N as profits hold steady against rising costs

Kuehne + Nagel saw first-half 2017 profit hit the same level as last year, arresting a profit decline in the first quarter, despite being hit by increased operating expenses.

The forwarder recorded an 8.2% increase in first-half revenue to Sfr8.8bn alongside the announcement it had acquired two perishables freight forwarders.

Despite a Sfr668m increase in revenue, which led to a 3.7% increase in gross profit (Sfr3.4bn), net earnings for the period remained stagnant atSfr356m.

This was largely due to increases of 3.6% in personnel costs ...