PANALPINA SEES 20% JUMP IN FIRST HALF NET INCOME
Panalpina, the Swiss forwarding and logistics group, reported net income of 46.8 million Swiss francs ($28.1 million) for the first half of 2001, a 20.3-percent increase over the year-earlier period.
Net revenue rose 9.2 percent to CHF 2.65 billion ($1.6 billion). The company reported a gross profit of CHF 633.4 million ($380 million), up 13.1 percent.
The company reported growth in all regions and divisions, with services provided to oil and energy industries seeing high growth.
The Basel, Switzerland-based company said it expects group profit for 2001 to exceed 2000.