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Expeditors gets extra tax boost in an otherwise high performance year
来源： 编辑：编辑部 发布：2018/02/27 09:34:11
SEATTLE's Expeditors International's fourth quarter net profit increased 51.2 per cent to US$168 million, drawn on revenues of $629 million, up 14.6 per cent.
The profit increase was attributed to the $39 million net profit benefit from the effect of the 2017 Tax Cut and Jobs Act - absent this, net profit would have been up 16.2 per cent.
Air freight volume in the quarter was up six per cent, and this, combined with the high-demand/tight-capacity environment that allowed airlines to increase prices, drove a 24 per cent increase in Expeditors' gross air freight revenue to $854 million.
But while such rapidly rising prices might be expected to put a dent in a forwarder's sales, that was not the case as fourth quarter revenue from air freight jumped 25.9 per cent to $218 million, reported Seattle's Cargo Facts.
Ocean freight volume was up just one per cent, and revenue increased 3.6 per cent in the quarter to $521 million, but again, the increase in sales was up 7.2 per cent to $141 million.
The profit increase was attributed to the $39 million net profit benefit from the effect of the 2017 Tax Cut and Jobs Act - absent this, net profit would have been up 16.2 per cent.
Air freight volume in the quarter was up six per cent, and this, combined with the high-demand/tight-capacity environment that allowed airlines to increase prices, drove a 24 per cent increase in Expeditors' gross air freight revenue to $854 million.
But while such rapidly rising prices might be expected to put a dent in a forwarder's sales, that was not the case as fourth quarter revenue from air freight jumped 25.9 per cent to $218 million, reported Seattle's Cargo Facts.
Ocean freight volume was up just one per cent, and revenue increased 3.6 per cent in the quarter to $521 million, but again, the increase in sales was up 7.2 per cent to $141 million.