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Profits up at Kuehne Nagel UK despite a decline in its turnover
Page 12
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THE UK ARM OF Swiss logistics giant Kuehne Nagel has increased its pre-tax profits rise to 29.6m for the year ending 31 December 2005.
Even though its previous accounts covered an 18-month period, the firm managed to boost its profits by around £1.5m.
The company, known as Hays Logistics and ACR Logistics before its acquisition by Kuehne + Nagel last year, managed the profit growth despite turnover slipping from E529m to £348m.
For the future, its directors say it will "endeavour to obtain new distribution contracts capitalising on the group's experience". Its most recent new contract involves it in handling primary distribution on behalf of brewer Scottish & Newcastle, working through a new venture called KN Drinks Logistics.
As part of this venture, the firm has just taken delivery of 149 new lveco Stralis tractor units -this is the single largest Stralis order to date from a UK retail customer.
Kuehne + Nagel required vehicles with a kerb weight of no more than 7,900kg; lveco beat this target by 100kg. They will predominantly be used with curtain-sided trailers. although they will also be pulling a small fleet of 12m triaxle tankers.