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Kuehne & Nagel third-quarter core profit grows on better market conditions

Credit: REUTERS/ARND WIEGMANN

Swiss freight-forwarding group Kuehne und Nagel International reported on Tuesday a rise of 31% in third-quarter core earnings, citing strict cost management and improving market environment.

Oct 20 (Reuters) - Swiss freight-forwarding group Kuehne und Nagel International KNIN.S reported on Tuesday a rise of 31% in third-quarter core earnings, citing strict cost management and improving market environment.

Earnings before interest and tax (EBIT) came in at 371 million Swiss francs ($408 million) in July-September, above the 283 million francs a year earlier, as sea freight, the largest part of the group's business, rose 12% due to recovery of demand from small- to mid-size enterprise customers and the increase in imports to Europe and North America from Asia.

($1=0.9097 Swiss francs)

(Reporting by Bartosz Dabrowski in Gdansk; Editing by Clarence Fernandez)

((bartosz.dabrowski@thomsonreuters.com ; +48 587720995;))

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