SWISS forwarding giant Panalpina posted a 6.6 per cent year-on-year increase in 2013 gross profit to CHF1.56 billion (US$1.78 billion), drawn on revenues of CHF6.7 billion, up 2.1 per cent.

Foreign currencies exchange rates had a negative impact on revenue, so organic growth amounted to 4.1 per cent with no acquisitions made last year.

In Europe, the biggest sales area, revenue declined 1.9 per cent to CHF2.608 million in 2013. In the Americas, revenue was up one per cent CHF2.3 billion while Asia Pacific revenue increased 2.3 per cent to CHF1.2 billion. Mideast, Africa-CIS (MEAC) enjoyed a 32.6 per cent boost to CHF574 million.

Revenue sources were split near evenly between air freight (45 per cent) and ocean freight (41 per cent) with logistics (14 per cent) accounting for the least. By region, revenue came in at 39 per cent for Europe, 34 per cent for the Americas, 19 per cent for Asia Pacific and eight per cent for the Mideast, Africa and the CIS.

"Growth in the global economy and world trade remained in low gear. The International Monetary Fund (IMF) estimates that both world output and global trade volumes rose three per cent in 2013. the same as the previous year," said a company statement.

But Panalpina said the dynamics have changed, with advanced economies strengthening, supported by strong private demand in the US and the Eurozone starting to emerge from recession.

However, the company noted that emerging market growth had slowed in BRICs (Brazil, Russia, India, China).

"Against this economic backdrop, freight markets continued to be plagued by overcapacities and significant rate volatility, which in turn can lead to increased volatility of forwarders' unit yields. On the demand side, growth remained lackluster," the company said.

Panalpina said it did not expect a significant pickup in growth in core markets.

"To strengthen Panalpina's global competitive position, selective investments in the business platform and industrial expertise will continue and will be balanced with strict cost control," the statement said.