Leading freight forwarder and supply chain management solutions group Damco has announced that it continued to improve its performance through the first quarter of the year, with net revenue up 5 per cent to US$684m and earning increasing 13 per cent to US$16m.
Ocean freight volumes increased by 15 per cent compared with the same period of 2010, above the market average, while supply chain management volumes were 5 per cent higher, and airfreight volumes grew 4 per cent.
'We are very satisfied with the results in the first quarter of 2011, especially because our focus on a number of selected industry verticals has begun to yield results,' said Rolf Habben-Jansen, Damco CEO. 'Our bottom line results are solid and our sales are doing well with new business more than doubled across the targeted industries since the beginning of 2010. This has strengthened our business and promises more future growth.'
The group achieved a number of 'significant wins' in the first quarter of the year, it revealed, signing a new contract with JC Penney in the US, and enjoying market sales in south Asia that are five times higher than the same period last year.
