SCHINDELLEGI, March 2. /TASS/. The net profit of the logistic group Kuehne+Nagel (K+N) at the end of 2016 amounted to 720 million Swiss francs ($712 million), up 6% more than in 2015, says the company.

K+N said that 2016 was “another successful year”, and the profit of the company has set a “new record”.

Traffic volumes in all business units of the company grew faster than the market, the report said. In the segment of ocean freight volumes increased by 6.1%, two times higher than the average indicators. For the first time, container throughput of the company exceeded 4 million TEU.

The volume of air traffic increased by 4.3% to 1.3 million tonnes.

In the segment of the ground operations the turnover of the K+N increased last year by 11.9%.

Net cash flow after payment of duties and taxes amounted to 16.5 billion Swiss francs, which is 1.2% lower than a year earlier . According to the report the decline was due to historically low freight rates for sea and air transportation, and changes in exchange rates. Net revenues in Asia Pacific grew by 1.7%, but decreased by 3.2% in the Americas and 1% in the EMEA region (economic region, which includes Europe, Russia, middle East and Africa).