Following our story earlier today commenting on the Q3 statistics of container shipping giant Maersk, the logistics arm of the Danish group, Damco, has now released its own independent third quarter figures. These reveal that year to date Damco’s ocean freight volumes increased 14% compared with the same period in 2010 and airfreight tonnage was up by 23% lifted through the acquisition of China based NTS.
Supply chain activity volumes fell back 3% and net revenue rose to $2,156 million, a 6% jump, whilst gross profits increased to $567.7 million up 8%. The year to date EBIT is static at $73.2 million. Rolf Habben-Jansen, Chief Executive Officer, Damco commented:
“The traditional annual peak season in Q3 was rather muted this year. Our result for the quarter is quite satisfactory given these difficult market conditions and the conscious investments we made in growth. We continue to invest in growth, focused on selected industry verticals and on the high growth markets.
“The response from our customers on this has been very positive as illustrated by the again significantly increased customer satisfaction which reached an all-time high in 2011 and by a large number of new business contracts being concluded. Despite the challenging market we remain very positive about our ability to deliver on our growth strategy in the years to come”