K&N stands by profit expectation

DESPITE AN unstable economic situation, fast-falling airfreight volumes, and pressure on seafreight rates, the international forwarder Kuehne & Nagel is confident its profit expectations for the year will hold up. In the first nine months it recorded a net income of CHF115.9-million (R705.8-m) - up 33.8% over the same period last year. Based on this, the board confirmed its profit expectation - in excess of CHF140-m (R852.6-m) for the business year 2001.