Business, Forwarding, Freight News, Logistics

Trump boost for Kerry profits

[ August 30, 2018   //   ]

Kerry Logistics says its turnover increased by 27% the six months ended 30 June to HK$17,461 million. Core operating profit increased by 19% while core net profit was up 22% to HK$700m. Integrated logistics business recorded a segment profit of HK$1,107 million and international freight forwarding (‘HK$235 million, an increase of 25% and 6%, respectively. Group managing director William Ma said that global demand has been flat, the China-US trade dispute has caused manufacturing capacities to shift from Mainland China to other Asian countries, bringing about an increase in shipping volume and production activities with southeast Asia.