Kerry Logistics profit jumps 81% to $1.53b in H1
Revenue during the period amounted $36.70b, up nearly 70%.
Kerry Logistics Network Limited reported its profit increased by 81% to $1.53b in the first half of the year.
Its revenue also grew 68% year-on-year to $36.70b over the same period. The group declared a dividend worth HK21.1 cents per share.
The group's Managing Director William MA attributed the growth in profit and revenue to the highly customised solutions the company provided amidst the pandemic.
“These disruptions and capacity chokeholds, together with different government approaches and restrictions in tackling the pandemic, have compelled the logistics industry to move towards a growing focus on service customisation,” Ma said in a statement.
“Leveraging our core competency in providing highly customised solutions, KLN Group capitalised on the opportunities in this new environment and achieved record growth in both revenue and core net profit in 2021 H1.”
The group generated some $1.29b in revenue from its Integrated Logistics business segment, up from $1.13b in the same period in 2020. This was linked to the booming manufacturing sector in Mainland China.
In addition, its International Freight Forwarding business segment’s profit soared by 279% to $1.43b from $379m last year. The group noted this was driven by the change in consumer behaviour and strong exports from Mainland China to the rest of the world.