DSV produced an operating profit of DKK1.1 billion in the first quarter of 2017 – almost double the figure for the year before. It represents a 6.2 per cent operating margin compared to 4.2 per cent a year ago.
The company’s sales and profits have grown substantially following the takeover of UTi Worldwide in January last year.
DSV said most of UTi’s activities had now been transferred to DSV’s IT platforms and the administrative functions had been combined.
Looking ahead, the group said it expected operating profit to be in the region DKK4.3 – 4.6bn compared to previous forecasts of DKK4.2 – 4.5bn.
Chief executive Jens Bjorn Andersen said: “A very strong set of Q1 numbers brings us even close to our goal of reaching pre-UTi performance levels and margins. All three divisions have recorded significant tin crease in earnings in the quarter which is very satisfactory. In addition to following our integration plans, we have increased our sales efforts to secure future market share gains.”
