COPENHAGEN (Reuters) -Freight forwarder DSV expects to lift operating profit this year as it sees chaotic conditions in the global supply chain, and therefore, higher freight rates, continue in the first half of this year.
Major trade bottlenecks have formed around the globe and led to record-high costs of transporting goods.
“We expect that the current situation with congestion, tight capacity and high rate levels will continue well into 2022. A gradual reduction of the congestion could start in the second half of the year,” it said in a statement.
The company, which also reported fourth-quarter operating profit in line with expectations, expects earnings before interest and tax (EBIT) before special items in the range of 18 billion to 20 billion Danish crowns this year, up from the 16.2 billion achieved in 2021.
The outlook assumes a global economic growth of around 4% and similar growth in the transport markets, it said.
($1=6.5174 Danish crowns)
(Reporting by Stine Jacobsen; Editing by Clarence Fernandez and Louise Heavens)
