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.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
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
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks