Airfreight volumes showed rapid, above-market growth of 15 percent in the first quarter compared with last year’s first quarter, Damco reported.
Damco’s acquisition of Pacific Network Global Logistics in 2012’s final quarter helped increase airfreight volumes.
The freight-forwarding provider reported a 6 percent increase in the first quarter’s net revenue with a total of US$773 million, compared to US$728 million in 2012.
“Overall, our performance in Q1 has been satisfactory with solid growth in most products and underlying trading only slightly below 2012,” Rolf Habben-Jansen, CEO of Damco, said. “In Q1, we made significant investments to adjust our business model in light of the changing market to make it more scalable and to enable further growth and profit improvement in the years to come…In 2013, we will be taking some important steps forward in simplifying our business and further raising the efficiency of our operations. We are also planning to invest in growing our geographical footprint as we would like to be there where our customers need us to be in the future, which will mean expanding our network from around 350 to 600 offices over the next three years.”