Transportation firm NTG completes acquisition of Aries Global Logistics and upgrades its full-year guidance.
Transportation company NTG sees progress in its business and thus makes an upward adjustment to its full-year guidance, according to a stock exchange announcement.
Instead of income in the range of DKK 7.8-8.3bn (USD 1.11-1.18bn), the company now expects DKK 9.7-10.2bn. At the same time, expectations for the operating profit (EBIT) is adjusted to DKK 700-750m against a previous forecast of DKK 570-640m.
The reason for the upward adjustment is a positive development in the company business. Furthermore, the acquisition of US logistics firm Aries Global Logistics, which has just been completed, will be part of the full-year result. It is expected to contribute with income of approximately DKK 1.4bn and DKK 85m to the operating profit for the rest of the year.
NTG presents its quarterly figures this week, however, the company informs in the upward adjustment that it expects to realize income of DKK 2.2bn og an operating profit of DKK 160m. Both air and road transport are marked by growth thanks to increased freight rates, higher optimization and an ability to take a bigger bite of the total capacity, it says.
