UTi reports Q1 figures

Freight logistics firm UTi Worldwide says its fiscal 2011 first-quarter earnings rose two per cent.

Although costs rose, they were offset by stronger airfreight and ocean shipping volumes which were "very close" to pre-recession levels.

For the quarter ended April 30, the company earned US$10.1 million, compared with US$9.8 million a year ago.

Freight logistics firm UTi Worldwide says its fiscal 2011 first-quarter earnings rose two per cent.

Although costs rose, they were offset by stronger airfreight and ocean shipping volumes which were "very close" to pre-recession levels.

For the quarter ended April 30, the company earned US$10.1 million, compared with US$9.8 million a year ago.