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Investing.com -- Shares of Kuehne + Nagel, the freight forwarder, experienced a decline on Tuesday following underwhelming earnings from its sea logistics business.
This disappointing performance affected the group’s overall profitability.
The sea logistics segment saw an increase in earnings during the fourth quarter, due to continued cost management efforts.
Despite this, the volumes shipped decreased and the profitability per container declined from the third quarter. This resulted in the unit’s earnings falling short of predictions.
In early European trading, the company’s shares were trading 5% lower.
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