JOC Staff | Nov 12, 2012 11:51AM EST
Freight forwarding and supply chain service provider Damco, part of A.P. Moller-Maersk, today reported profit in the third quarter of $212 million, a 2 percent increase from $207 million in the third quarter of 2011.
Profit in the first nine months of 2012 was $591 million, up 4 percent from $568 million in the third quarter of 2011.
Quarterly revenue was $849 million, increasing from last year’s $784 million. Revenue from January to September was $2.4 billion, up from $2.2 billion in the same period last year.
In the third quarter, ocean volume was 206,700 20-foot-equivalent units, up 7 percent year-over-year, and air volume was 64,300 tons, up 122 percent.
The company acquired Pacific Global Networks this quarter and will relocate its headquarters from Copenhagen, Denmark, to The Hague in the Netherlands in the first quarter of 2013, CEO Rolf Habben-Jansen said.
