DSV has reported a 3% increase in revenues in 2Q 2018. That was 1% better than expected but was nonetheless the slowest of the freight forwarders so far which have grown by 13%. A surge in airfreight volumes was offset by ocean freight growth that was inline with the sector average. More important though is that the company reported an increase in profitability (EBITDA rose to 8.4% from 7.6%) and increased its earnings guidance for the year by 4%. The improvement was the result of an improved revenue retention ratio, in part driven by a more conservative approach to market share. DSV U.S...