K+N’s “huge opportunity to grow” follows COVID-19 hit to volumes in Q1

Panjiva

K+N’s “huge opportunity to grow” follows COVID-19 hit to volumes in Q1

Freight forwarder K+N reported a 6.2% slide in revenues in Q1 with operating profits that fell by 24.0%. The firm identified that 19% points of the operating profit fall was due to the impact of the COVID-19 pandemic which has cut international shipping volumes. The uncertainties relating to the pandemic has led the firm to withdraw its earnings guidance with an update due after the next earnings call in July. The firm’s CEO, Detlef Trefzger has stated even after a recovery that “the new normal will maybe not be 100%, at 90% or 80% in certain industries”. The firm&#...

K+N’s “huge opportunity to grow” follows COVID-19 hit to volumes in Q1

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