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Kerry Logistics profit soars 55pc to US$488m, as sales rise 8pc
来源： 编辑：编辑部 发布：2020/04/02 10:26:09
HONG Kong's Kerry Logistics Network's 2019 profit attributed to shareholders surged 55 per cent year on year to HKD3.79 billion (US$488 million), drawn on revenues of HKD41.14 billion, up 8 per cent, with its logistics and forwarding businesses performing well.
Core operating profit in 2019 was up 17 per cent to HKD2.77 billion and core net profit improved 4 per cent to HK$1.37 billion.
The International Freight Forwarding (IFF) business recorded a 13 per cent increase in segment profit to HKD622 million, while the Integrated Logistics (IL) business recorded a 15 per cent increase in segment profit to HKD2.4 billion.
Chairman of Kerry Logistics, Kuok Khoon Hua, said: "2019 was a challenging and turbulent year. Global economic growth weakened considerably as international trade disputes dragged on and Mainland China's GDP growth slowed down.
"Social unrest in Hong Kong further impacted the local economy and affected consumer confidence. Despite the weak product demand and lower productivity worldwide, we registered growth in revenue, core operating profit and core net profit again in 2019.
"Supported by our diversified business portfolio, extensive geographical coverage and broad customer mix, we were able to achieve positive growth across all regions, with 55 per cent increase in profit attributable to the shareholders year on year."
The company said that its International Freight Forwarding business benefited from the "booming intra-Asia trade".
The majority of its regions recorded growth except Taiwan. The major contribution came from mainland China which registered a 23 per cent growth, reports London's Air Cargo News.
"The successful consolidation of its industrial project logistics services and overland rails worldwide allowed the group to tap into new markets beyond its traditional customers in the consumer products industry."
Looking ahead, group managing director of Kerry Logistics, William Ma, said: "The Covid-19 pandemic outbreak is creating a global business and financial turmoil.
"As of today, one-third of the world's population is under varying degrees of lockdown. The world has been switching to a more domestic-based supply chain for daily essentials.
"Riding on Kerry Logistics' extensive exposure in various markets, the Group is in a relatively secure position to accommodate the strong demand for domestic logistics services particularly in Hong Kong, Taiwan, Mainland China, Thailand and some Asian countries.
"Nonetheless, when the pandemic comes under control, the global supply chain will be in chaos and the recovery is expected to be slow and painful. We are reserving our strengths and getting prepared to play a more vital role in supporting our customers to move well ahead of the aftermath."
Core operating profit in 2019 was up 17 per cent to HKD2.77 billion and core net profit improved 4 per cent to HK$1.37 billion.
The International Freight Forwarding (IFF) business recorded a 13 per cent increase in segment profit to HKD622 million, while the Integrated Logistics (IL) business recorded a 15 per cent increase in segment profit to HKD2.4 billion.
Chairman of Kerry Logistics, Kuok Khoon Hua, said: "2019 was a challenging and turbulent year. Global economic growth weakened considerably as international trade disputes dragged on and Mainland China's GDP growth slowed down.
"Social unrest in Hong Kong further impacted the local economy and affected consumer confidence. Despite the weak product demand and lower productivity worldwide, we registered growth in revenue, core operating profit and core net profit again in 2019.
"Supported by our diversified business portfolio, extensive geographical coverage and broad customer mix, we were able to achieve positive growth across all regions, with 55 per cent increase in profit attributable to the shareholders year on year."
The company said that its International Freight Forwarding business benefited from the "booming intra-Asia trade".
The majority of its regions recorded growth except Taiwan. The major contribution came from mainland China which registered a 23 per cent growth, reports London's Air Cargo News.
"The successful consolidation of its industrial project logistics services and overland rails worldwide allowed the group to tap into new markets beyond its traditional customers in the consumer products industry."
Looking ahead, group managing director of Kerry Logistics, William Ma, said: "The Covid-19 pandemic outbreak is creating a global business and financial turmoil.
"As of today, one-third of the world's population is under varying degrees of lockdown. The world has been switching to a more domestic-based supply chain for daily essentials.
"Riding on Kerry Logistics' extensive exposure in various markets, the Group is in a relatively secure position to accommodate the strong demand for domestic logistics services particularly in Hong Kong, Taiwan, Mainland China, Thailand and some Asian countries.
"Nonetheless, when the pandemic comes under control, the global supply chain will be in chaos and the recovery is expected to be slow and painful. We are reserving our strengths and getting prepared to play a more vital role in supporting our customers to move well ahead of the aftermath."