May.13--LOGWIN Group has posted first quarter year-on-year flat pre-tax profit of EUR8 million (US$11.1 million) drawn on revenues of EUR278.5 million, down 13.2 per cent.
After divestments, revenue in the Solutions business segment declined by 25.54 per cent year on year to EUR127.7 million. Core logistics activities contributed positively by generating higher volumes from existing customers.
During the quarter positive one-off effects resulting from the sale of business activities offset non-recurring expenses for cost reductions and capacity adjustments, reported the UK's Transport Intelligence.
The air and ocean business segments generated revenue of EUR151.3 million, rising 1.61 per cent. Volumes continued to grow in both air and ocean freight amid volatile rates. The operating result of the business segment was EUR6.4 million, a rise of 6.67 per cent.