Logistics provider Damco has presented revenue growth of 11 per cent in the first nine months of 2012, compared with the same period last year.
Year-to-date gross profit was up 4 per cent to US$591m (€465m), while earnings before interest and tax grew 6 per cent to US$76m (€60m).
Damco significantly improved results from 2009 onwards and this growth appears to have continued into 2012, despite challenging times for the world's freight markets.
So far this year, ocean freight volumes grew by 7 per cent, compared with airfreight volumes, which have increased 122 per cent, and supply chain management volumes, which have grown by 5 per cent.
In the third quarter, Damco completed the acquisition of Pacific Global Network, boosting its presence in Australia and China-Hong Kong. It also announced the relocation of its headquarters from Copenhagen to The Hague in the Netherlands, which will take place in the first quarter of 2013.
'We have in this period further strengthened the foundation of our business, and our results underline that we are moving in the right direction,' said CEO Rolf Habben-Jansen. 'We are satisfied with our Q3 results, as whilst the overall figures are impacted by one-off costs related to the acquisition of Pacific Network Global Logistics and the relocation of our HQ to The Hague, our underlying trading was ahead of 2011 and in-line with our plans.'
