Antitrust fine hits K+N's bottom line

Monday, April 16, 2012

Swiss freight forwarder Kuehne + Nagel Group said it had a profit of 133 million Swiss frances ($144 million) in the first quarter, compared to 155 million Swiss francs in the same 2011 period. The company said its result reflected cost increases, lower margins in the forwarding business and an antitrust fine of 65 million Swiss francs imposed by the European Commission. Revenues were 4.83 billion Swiss francs in the first quarter of 2012, compared to 4.82 b...

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