Turnover rises while core net profit drops
Kerry Logistics has announced the group’s interim results for the six months ended 30 June 2019. The turnover increased by 13% to HKD 19.810 million (EUR 2.28 billion) - 1H/2018: HKD 17,461 million (EUR 2.01 billion). The core operating profit increased by 9% to HKD 1,330 million (EUR 153.7 million) - H1/2018: HKD 1,216 million (EUR 140.5 million). The core net profit dropped slightly by 4% to HKD 669 million (EUR 77.3 million) - H1/2018: HKD 700 million (EUR 80.7 million).
William Ma, group managing director of Kerry Logistics, said, “Global economic growth has markedly slowed down in H1/2019, with weakened trade and manufacturing. The ongoing international trade disputes and unresolved negotiations have created further adverse conditions and accelerated changes in the global supply chains. Rising political and social turmoil in Hong Kong has added pressure to the already softening economy." (mw)