Panalpina’s poor showing in ocean freight dominated its finance and earnings call this morning as it released its third-quarter results.
As investors privately expressed “disappointment”, Panalpina itself focused on the 8.9% year-on-year growth in gross profit, to CHF1.116bn ($1.117bn), with ebit up 15.5%, to CHF83.2m, and profit up 5.4%, to CHF51m.
However, ocean freight saw a 2% fall in volumes, “owing to a discontinued high-volume contract at the end of last year,” said Robert Erni, …
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Source: The Loadstar