Revenue up at K+N in Q1, but exchange rates and rising costs bite into profits

//Revenue up at K+N in Q1, but exchange rates and rising costs bite into profits

Revenue up at K+N in Q1, but exchange rates and rising costs bite into profits

By | 2017-04-20T17:05:27+00:00 April 20th, 2017|feed news|Comments Off on Revenue up at K+N in Q1, but exchange rates and rising costs bite into profits

Despite revenue growth of almost CHF300m (US$300m), Kuehne + Nagel struggled to increase profits in the first three months of 2017, thanks to exchange rates and operating costs ate into the rising turnover.
For the three months to March, the company brought in just shy of CHF4.3bn in revenue, a 7.2% increase on Q1 2016. While this resulted in 3.5% growth in gross profit (CHF1.6bn), net earnings for the period fell 2.4% to CHF165m.
During a …

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