News / UTi Worldwide has 'turned the tide', with new business and market share on the up

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US freight forwarder UTi Worldwide released first-quarter results yesterday, which, it claimed, showed that it had turned the tide of declining market share that characterised last year.

Despite the fact that year-on-year volumes and earnings were below the level they had been in the first quarter of 2014, management claimed that quarter-on-quarter comparisons with the last three months of 2014 indicated that its “transformation” was under way.

Chief executive Ed Feitzinger told analysts yesterday: “After our fourth-quarter results there was some question ...