KLN looks back on 2023
Kerry Logistics Network (KLN) has released its financial results for 2023, with performances in line with expectations for the challenging economic situation of last year. Revenue dropped by 42% to HKD 47,408 million, while core operating/core net profits decreased by over 60%.
Among the individual businesses, KLN’s integrated logistics segment showed a decline of only 7%, dragged down by a weak Hong Kong market. The division recorded growth in other markets, however. Freight forwarding also experienced a drop in revenue but saw KLN delivering sustainable results on the Asia-US trade routes.
Various ventures, such as one at Ezhou airport, Central China, as well as large industrial projects, were major milestones for KLN last year. In 2024, the group will look to strengthen its collaboration with SF Holding and to expand its logistics offerings internationally. (mk)