Expeditors International quarterly air cargo sales up 54pc

SEATTLE's Expeditors International second quarter net profit increased 67 per cent year on year to US$90.3 million drawn on revenues of $1.5 billion.

This was attributed to higher than expected air freight volume, up 54 per cent, and sea freight container volume, which increased 26 per cent.

Zacks Equity Research said the logistics provider's revenue was higher than the company's consensus estimate of $1.35 billion with air freight revenue hitting $732.9 million and ocean freight and services $793.6 million, 97.3 per cent and 64.9 per cent year over year respectively.

Quarterly, revenue from Europe and Africa increased 99.4 per cent while in the US it went up 48.4 per cent, rising in North America over all by 40.9 per cent. In Latin America, revenue increased 27.8 per cent, Asia rose 99.4 per cent while the Middle East and India was up 47.3 per cent and in Australia, by 32.7 per cent.
(Source:www.schednet.com)