Mixed results for German freight carrier
Results at the pan-European freight mover DB Mobility Logistics have shown a mixed picture.
The company made an overall profit, but better results from its sea freight and contract logistics arms were balanced by a drop in revenue earned from its air freight forwarding division.
Total revenue for the group's contract operations was up by 0.9 per cent in the first half of 2012 over the same period last year, with the total profit earned from contract logistics operations up by 18.2 per cent – helped greatly by currency fluctuations.
DB Schenker's sea forwarding business handled 10.6 per cent higher freight volumes in 2011-12 than the previous year, but this was contrasted by a fall of nearly eight per cent in the amount of air freight carried.
Earnings at the company's rail division showed a small drop, of 0.5 per cent, on the back of a fall in the amount of traffic carried of 2.6 per cent, taking it to 202.3 million tonnes.
Observers say the drop in air freight volumes will dampen optimism for the company's medium-term prospects, even when other parts of the business are performing well.
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