Kuehne + Nagel is to open a 195,000 ft² warehouse near Castle Donington in the East Midlands. The company has signed a 15-year lease on the facility, which is being constructed on 17.6 acres at Segro Logistics Park East Midlands Gateway, and is due to open in March 2019. Three existing facilities, including one at Minworth, will be merged into the new operation which will serve Kuehne + Nagel’s overland business. Jim Hedderwick, overland director for Kuehne + Nagel UK […]
Kuehne + Nagel shrugs off HMRC investigation into £17m corporation tax saving from network fee charges
A network fee charge which has saved Kuehne + Nagel Limited over £17m in corporation tax over six years is under investigation by HMRC, according to the company’s latest annual results.
Kuehne+Nagel said 2020 was a year of two halves, with a weak first semester followed by a strong second resulting in a group net turnover of CHF 20.4bn (£15.8bn).
Kuehne + Nagel’s road and rail logistics division saw volumes fall in the third quarter due to seasonality and the tough economic conditions affecting Europe, dragging down its nine month performance. It meant EBITDA was 9.6% down on the same period of last year for the first nine months of 2012 at CHF 28m (£18.7m). Despite this, invoiced turnover increased 6.9% to CHF 235m. EBITDA within its contract logistics division in the nine-month period was flat year-on-year at CHF 115m, […]