Damco pre-tax 2010 profit up 88pc to US$85 million

MAERSK's stand-alone forwarder, Damco, has posted pre-tax profits of US$85 million in 2010, up 88 per cent year on year, drawn on revenues of US$2.7 billion.


The forwarding and logistics giant handled 610,000 TEU, up 18 per cent year on year with an increase of 24 per cent year on year in air freight of 75,000 tonnes.


"We are pleased with our result for 2010, having improved significantly for the second year in a row. We have continued to gain market share versus most of our main competitors while improving customer satisfaction and further strengthening our relative cost position," said CEO Rolf Habben-Jansen in a company statement.


In 2011, Damco will continue to focus on organic growth and invest more in air freight and emerging markets said the company statement.
(Source:http://www.schednet.com)