Air cargo leads Seattle's Expeditors quarterly profit rise of 49pc

SEATTLE'S Expeditors International posted a first quarter profit increase of 49 per cent year on year to US$91.2 million, drawn on net revenues of $453.9 million, up 25 per cent.


This left the logistics provider with a first quarter operating profit of $147.2 million, up 46 per cent year on year, reported Newark's Journal of Commerce, adding that net revenue is what the company retains after paying transport costs.


Air freight was the best performer, with tonnage up 16 per cent year on year and the company's yield in the air freight arena growing 1.6 percentage points.


"A focus on strong market share growth and efficient operations has been the solid foundation upon which we continue to build our company," said chairman and CEO Peter Rose. "It was an outstanding quarter by any measure."
(Source:http://www.schednet.com)