UPDATE 1-Kuehne & Nagel doubles Q3 core profit, expects no change in market situation

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Oct 20 (Reuters) - Swiss logistics group Kuehne & Nagel International reported on Wednesday third-quarter core earnings growth by 113% year-on-year, citing robust global demand, but said it does not expect any significant change in the constrained market situation in the next few months.

The disruptions to the global economy during the pandemic have upset supply chains across continents, causing shortages of goods and services from car parts and microchips to container vessels that transport goods across the seas.

Problems such as port congestion and Chinese power shortages have put additional strain on global supply chains.

"In the current situation with supply chains that are difficult to plan, our Kuehne+Nagel experts are working tirelessly to implement the best possible logistics solutions for our customers," Chief Executive Detlef Trefzger said in a statement.

Earnings before interest and tax (EBIT) were 789 million Swiss francs ($853.99 million), above the 371 million francs it reported a year earlier, as all business units of the group exceeded their prior-year results.

Sea freight, the largest part of the group's business, EBIT rose 256% year-on-year as the unit continued to focus on the transport of goods with complex requirements.

Kuehne + Nagel's rival DSV in October raised its earnings expectations for the year, citing brisk business in the third quarter and continued tight capacity in the market. ($1 = 0.9239 Swiss francs) (Reporting by Anna Rzhevkina and Aida Pelaez-Fernandez; Editing by Jacqueline Wong and Krishna Chandra Eluri)

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