COPENHAGEN - Danish freight forwarder DSV reported fourth-quarter operating profit above expectations and launched a share buyback programme.

DSV said earnings before interest, tax and amortisation expenses (EBITA) rose 10.7 percent to 672 million Danish crowns ($121.9 million) in the October-December quarter, above a forecast of 655 million in a Reuters poll.

The company expects 2014 EBITA of DKK 2.50 billion to 2.70 billion and proposed a dividend of 1.50 crowns for 2013. DSV will initiative a share buyback programme of DKK 200 million. ($1 = 5.5143 Danish crowns)