Global logistics and freight forwarding company Damco has revealed that its results for 2011 demonstrated 'continued strong growth', with earnings before interest and tax improving 29 per cent to US$75m to US$97m.
According to the group, ocean and airfreight volume growth was substantially higher than the market, with revenue rising from US$2.7bn to US$2.8bn, while reduced freight rates masked a strong increase in underlying business, the group noted.
Airfreight tonnage climbed 47 per cent in 2011, with ocean volume up 15 per cent, some 9-10 per cent ahead of the market.
Weakened consumer confidence meant that the traditional annual third-quarter peaks did not materialise in Europe and North America, although there was an ongoing focus on accelerating expansion in growth markets such as Asia, Africa and Latin America.
'We are pleased to have delivered such strong results, despite the softening market in the second half of the year,' said Damco CEO Rolf Habben-Jansen. 'Taking our market-leading expertise in retail in Retail and Lifestyle to other industry sectors is clearly resonating with customers.'
Going ahead in 2012, Damco said that it plans to grow volumes significantly faster than the market, while also improving profitability.
'We will continue to focus on providing our customers with exceptional service, taking our supply chain management expertise to targeted industry verticals and further strengthening our products,' added Habben-Jansen. 'We will also launch some new and differentiated services.'
