Kuehne & Nagel has reported a 1.1 percent increase in nine-month net earnings but said market volatility is high and the fourth quarter is likely to be demanding, reported Dow Jones Newswires.

    Turnover in the first nine months decreased 3.8 percent (currency adjusted: increased 10.1 percent) to US$16.36 billion.
Net earnings increased 1.1% (currency adjusted: up 15.6 percent) to $509.14 million.

    At $816.42 million, the operational result (EBITDA) was 2.4 percent below (currency adjusted: 11.5 percent above) the figure of the previous year's period.

    CEO Reinhard Lange said: "Considering the softening market growth, we are satisfied with our results in the first nine months of 2011.

    "Volatility is high and the fourth quarter is expected to remain demanding," he said.

(Source:http://www.cargonewsasia.com/)