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Danish freight forwarder DSV profit increases 10pc as revenue rises 45pc
DANISH freight forwarder DSV posted 10 per cent first half gross profit increase to DKK5.5 billion (US$801.7 million), drawn on revenues of DKK25.7 billion, which increased 45 per cent year on year.
The world's fifth largest freight forwarder said operating profit before special items rose to DKK809 million in April-June, beating a mean forecast of DKK769 million in a Reuters poll of analysts.
"We maintained the positive growth trend in both number of shipments and earnings in all our business areas," said CEO Jens Bjorn Andersen, adding that his air-sea unit performed especially well.
DSV said the overall air freight market grew by 2-3 per cent in the second quarter while the company gained market share with growth of 10 per cent.
In a fragmented freight forwarder market, DSV's overall share is estimated to around two per cent while the top 20 companies combined control 40-50 per cent of the total.
DSV, founded by 10 truckers in 1976 also proposed a 600 million crown share buyback programme.
The world's fifth largest freight forwarder said operating profit before special items rose to DKK809 million in April-June, beating a mean forecast of DKK769 million in a Reuters poll of analysts.
"We maintained the positive growth trend in both number of shipments and earnings in all our business areas," said CEO Jens Bjorn Andersen, adding that his air-sea unit performed especially well.
DSV said the overall air freight market grew by 2-3 per cent in the second quarter while the company gained market share with growth of 10 per cent.
In a fragmented freight forwarder market, DSV's overall share is estimated to around two per cent while the top 20 companies combined control 40-50 per cent of the total.
DSV, founded by 10 truckers in 1976 also proposed a 600 million crown share buyback programme.
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