Panalpina recorded a “successful year” in 2011, with a profit of 127 million Swiss Francs ($138.7m), following its 2010 loss of 26 million Swiss Francs.
The Swiss forwarder said this was due to organic growth across all regions and product divisions.
Net forwarding revenue fell 9% to 6.5 billion Swiss Francs, reflecting the strength of the Swiss franc and lower freight rates.
Gross profit, after deducting Customs, security charges and freight rates, was flat at [...]
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