THE world's biggest forwarder, Swiss-based Kuehne + Nagel posted a 24 per cent fourth quarter year-on-year net profit increase to CHF315 million (US$351.3 million), drawn on revenues of CHF6.76 billion, up 19 per cent, reports Chicago-based Morningstar.

The company has right-sized its cost base and streamlined its organizational and sales structure. It said more measures have been initiated for 2025 as it aims to accelerate growth in all of its business units with the aim of growing faster than the market.

The freight industry spent 2024 dealing with increasing supply-chain congestion as container vessels are still having to avoid the Red Sea after attacks on commercial ships from Houthi insurgents, as well as Russian airspace remaining closed due to the war in Ukraine, an underlying macroeconomic slowdown, and moderating but persistent inflation.

The year ended in fear of global trade tariffs and the company said it had an increase in demand for sea and air freight, with Chinese e-commerce companies the major source of volume increases offsetting the weakness in industries such as autos.