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You are here: Home » International News » Aviation» DHL Global Forwarding air profits falls 10.6% as sales rise 5.7%

DHL Global Forwarding air profits falls 10.6% as sales rise 5.7%

11 August 2017 | Germany
 

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DHL Global Forwarding's second quarter air freight gross profits fell 10.6% year on year to EUR210 million (USD 246 million), drawn on revenues of EUR1.1 billion, which increased 5.7%.

The Deutsche Post-owned forwarder said the overall air cargo market is estimated to have increased by 9-10% during the period.

But air cargo profits declined because of a lag between time rates are increasing and a forwarder's ability to pass these price increases onto customers.

Air freight rates in Asia remained nearly unchanged at a level comparable with the peak season of the fourth quarter of the previous year.

The company said in a statement "Due to our contract structures air freight price increases can only be passed on to customers with a delay.”

"As a result, revenue for the first half of 2017 only rose by 6.3% and air freight gross profit fell despite increased volumes," it said.

   
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