Kuehne + Nagel Says Market Remains Challenging Despite Slight Demand Uptick
By Dominic Chopping
Kuehne + Nagel saw slightly improving demand for sea transport and air logistics during the first months of 2024 but the overall environment remained challenging, it said.
The Swiss logistics company said cost-efficiency measures were intensified during the first quarter and its previously announced reporting structure reshuffle will allow for further efficiency gains and profitable growth.
Earlier this month the company said it was discontinuing its regional structure, creating a new direct reporting line of its units to simplify responsibilities, allow quicker responses to rapidly changing market developments and enable business decisions to be implemented faster.
"Our focus on efficiency and streamlined structures allowed us to reduce costs per unit by 12% in sea logistics and 14% in air logistics," said Chief Executive Stefan Paul. "By discontinuing the regional structure, we have laid the foundations for further growth and enabled more direct access to our customers worldwide."
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
April 23, 2024 01:34 ET (05:34 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Q4 Stock Market Outlook: Where We See Opportunities for Investors
-
Markets Brief: Non-Farm Payrolls in the Spotlight Again
-
6 Top-Performing Large-Growth Funds
-
What’s the Difference Between the CPI and PCE Indexes?
-
This Cheap Stock Is Still a Buy Even After 50% Rally
-
10 Top-Performing Dividend Stocks of Q3 2024
-
33 Undervalued Stocks
-
Communication Services: Cable’s Broadband Dominance Isn’t as Strong as It Once Was
-
Technology: Strength Continues, With Software Presenting the Best Buying Opportunities
-
Best- and Worst-Performing Stocks of Q3 2024
-
Top Stocks to Own From the Best Fund Managers
-
2 Cheap Stocks Top Managers Have Been Buying