Kuehne and Nagel (K&N) has revealed that it maintained steady growth momentum through the opening three months of 2011, gaining market share across all of its business units.

Despite the impact of strong negative currency effects, turnover climbed by 4.7 per cent (currency adjusted, 17 per cent) to some CHF4.8bn (€3.7bn), while the group's operational result (EBITDA) jumped 9.2 per cent to CHF249m (€193m).

Net earnings for the first quarter improved by 17.6 per cent (currency adjusted, 29.8 per cent) to hit CHF154m (€119.5m), the Swiss company announced.

'The good results in the first quarter underline the value of our global logistics capabilities, flexibility and operational efficiency in a market influenced by different economic conditions, political unrest and natural disasters, said Reinhard Lange, CEO of Kuehne and Nagel. 'As planned we expanded our activities in all business units while at the same time increasing productivity.

'It is difficult to forecast the world economic development in the months to come,' he added. 'We are confident that our resilient integrated business model will support the continuation of our strong performance.'

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