Smiling faces in Hong Kong
2021 was good to Kerry Logistics. In its annual results, the Hong Kong-based group reported revenues amounting to HKD 81.7 billion (USD 11.2 billion), a rise of 53% compared to 2020 (HKD 53.3 billion). Operating profit clocked in at HKD 6.2 billion (USD 790 million), an increase of 88%.
The international freight forwarding (IFF) division performed particularly well, recording a segment profit of HKD 4.8 billion, almost quadrupling the figures of 2020. The integrated logistics (IL) segment saw a weak profit of HKD 1,868 million (USD 240 million), which represents a decrease of 29%, partly due to the disposal of the group’s Hong Kong warehouse and the Taiwan businesses during the year.
In mainland China, the group’s IL business grew by 33%, mainly from the increase of manufacturing activities as purchase orders shifted back to the Mainland from many Asian countries. (sh)