Panalpina improves profitability in the second quarter

The Panalpina Group improved profitability in the second quarter of 2013.

The Group`s consolidated profit increased by 44% year-on-year to CHF 24 million. Gross profit went up by 10% to CHF 399 million. Panalpina`s air freight showed the first volume increase after nine quarters of declines and moreover grew ahead of market.

Ocean freight continued to gain market share, and logistics value-added services continued their positive development.

"Our second quarter results show a slight recovery of our business," said CEO Peter Ulber. "All our products managed to gain market share. Ocean freight and logistics show double-digit growth in terms of gross profit, and also air freight is growing again, albeit moderately." < Korea Shipping Gazette >