COPENHAGEN -Denmark's DSV, the world's third-largest freight forwarder, on Tuesday posted third-quarter operating profit slightly above forecasts and lifted its full-year earnings outlook despite increased global economic uncertainty.
DSV now expects earnings before interest and tax (EBIT) before special items for 2022 to be in the range of 24.5 billion to 25.5 billion Danish crowns ($3.38 billion), up from an earlier estimate of 23-25 billion crowns.
DSV reported EBIT before special items of 6.5 billion crowns for the third quarter, compared to an average of 6.3 billion crowns forecast by analysts in a company poll.
"All three divisions continued the good performance with growth in earnings and market share gains across most of our business areas," Chief Executive Jens Bjorn Andersen said in a statement.
"The global economic uncertainty has increased, but we have great trust in our flexible business model which enables us to quickly adapt to changes," he said.
DSV has been one of the companies benefiting from sky-rocketing freight rates in the wake of the pandemic, but global demand is now seen falling as soaring inflation causes consumers to grow wary of spending.
($1 = 7.5334 Danish crowns)
