Swiss logistics company Kuehne + Nagel has reported net earnings of CHF387 million for the first nine months of 2009, down 14.4%, compared to CHF452 million for the first nine months of 2008.
The company's turnover for the first nine months of 2009 was CHF12.8 billion, compared to CHF16.3 billion in the same period of 2008.
Gross profit for the first nine months of 2009 was CHF4.39 billion, compared to CHF4.73 billion for the first nine months of 2008.
Reinhard Lange, CEO of Kuehne + Nagel, said: "We are reasonably satisfied with our results for the first nine months. Our dual strategy has proven effective. We have successfully counteracted substantial volume declines through strict cost management and increased sales activities."