February 27, 2020 / 6:18 AM / a month ago

Kuehne & Nagel full-year core earnings grow despite drop in air freight demand

Feb 27 (Reuters) - Kuehne und Nagel International reported a 7.5% increase in full-year core earnings on Thursday, as strength in its sea freight, overland and contract logistics divisions offset a drastic drop in demand for air freight.

The Swiss freight-forwarding group’s earnings before interest and tax (EBIT) came in at 1.06 billion Swiss francs ($1.09 billion), slightly above the estimate of 1.05 billion francs in a company-compiled consensus. ($1 = 0.9763 Swiss francs) (Reporting by Bartosz Dabrowski in Gdansk; Editing by Maju Samuel)

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