Hellmann UK Announces A Q1 Air Freight Revenue Increase Of 11%
Hellmann Worldwide Logistics UK has released its Q1 results, revealing significant growth in the company’s air freight product. In comparison with figures from last year, air freight revenue increased by 11%, while gross profit increased to a similar extent.
The result also revealed that while shipment tonnage grew, the actual shipment count dropped, suggesting a trend towards larger consignments
The air freight results contributed to extremely positive figures for the company as a whole, with a 12% increase in gross profits, an 8% revenue increase the Nett result has been improved by 27% helped by projects, new contracts and the general upturn in the market in Q1
The results also showed growth in every area of the business, including road, sea and contract logistics
Matthew Marriott, Managing Director of Hellmann UK, commented:
Both our air freight and our overall Q1 results have been very positive, and I think that reflects our growing expertise in capacity management. From an economic perspective, we have started to see the signs of increasing economic consistency. Indeed, there has been a certainly been a consistency of volume orders from both Asia and US – something that wasn’t the case last year – and a similar volume consistency in Europe over the last fours months or so.
However, with the possibility of UK interest rate rises on the economic horizon, it will be interesting to see if UK manufacturers are able to remain competitive. Looking ahead, we maintain a conservative outlook for the rest of the year, but certainly hope the consistency we are starting to see continues – and naturally that our own results follow that trend.