Freight forwarding drives Kerry forward
Asia-based Kerry Logistics Network has reported the group's interim results for the six months ended 30 June 2022. While revenue increased by 39% year-on-year to HKD 48 billion (USD 6.12 billion), operating profit grew significantly by 74% to almost HKD 3.5 billion (USD 450 million).
The integrated logistics business recorded a segment profit of HKD 717 million (USD 91.4 million), which represents an increase of 28%. E-commerce and express ('E&E') business posted a segment loss of HKD 393 million (USD 50 million), while international freight forwarding more than doubled its segment profit to HKD 3.4 billion (USD 430 million), which amounts to a leap of 140%.
International freight forwarding remained the growth driver of the group. Topocean joined the group as a new member in April 2022.
Kerry Logistics Network is currently the largest international logistics company listed on the Hong Kong Stock Exchange. (sh)