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October 22, 2007 9:35 AM, EDT

Kuehne & Nagel Profit Rises 34%

Kuehne & Nagel International AG, the world’s largest ocean freight forwarder, said Monday its third-quarter profit rose 34%, helped by increased air and ocean shipments, Bloomberg reported.

Net income rose to about $121 or $1.02 a share, from about $90.1 million or 77 cents last year, the Switzerland-based company said in a statement.

Sales rose 18% to $4.6 billion. The company reports its earnings in Swiss francs.

Kuehne & Nagel, which last year made more than 60% of its operating profit arranging shipment of goods by sea and air, is taking advantage of rising imports and exports worldwide, Bloomberg said.