RH Freight went for £66.9m to Kuehne + Nagel

Commercial Motor

July 19, 2011

Kuehne + Nagel paid £66.9m cash for RH Freight earlier this year, the company's latest financial statement reveals.

The deal, revealed in March, cemented the company's position as one of the largest movers of road freight between the UK and the Continent.

Since its consolidation into the business in April, RH Freight has boosted Kuehne + Nagel’s Road and Rail Logistics turnover by 10%, although the company’s statement does not contain comparative figures.

Kuehne + Nagel's statement covering trading from January to June 2011 reveals overall turnover was £7.4bn (2010: £7.5bn), while pre-tax profit came in at £398m (2010: £301m).

The company has forecast slower growth within the global logistics market for the second half of the year but believes it is in good shape "to tackle future challenges".

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