DSV pleased with 2Q2019 performance, but markets are soft, especially airfreight

DSV International Group CEO Jens Bjørn Andersen commented (31-Jul-2019) the company is "very pleased with the strong results" for 2Q2019. Mr Andersen noted global transport markets are "soft - especially within air freight". DSV reported the continued political uncertainty about trade tariffs between US and China accompanied by a deceleration in global investment continued to impact global trade volumes in 2Q2019. DSV's airfreight volumes grew 1% year-on-year in 1H2019, however, volumes declined by 2% in 2Q2019. The slowdown follows the market trend, but is also impacted by the termination of a high volume, low margin customer contract. It is estimated that the global airfreight market declined 4% in 1H2019. [more - original PR]