Kerry Logistics Network core net profit up by 81 percent

 Kerry Logistics Network core net profit up by 81 percent

Kerry Logistics Network Limited (KLN Group) announced the Group’s interim results for the six months ended 30 June 2021. As per the report, here are the numbers for first six months of 2021 compared to the first six months (1H) of 2020. 

The company’s revenue increased by 68 percent year-on-year to HK$36,709 million (2020 1H: HK$21,885 million). Core operating profit increased by 70 percent to HK$2,536 million (2020 1H: HK$1,489 million).

Core net profit jumped by 81 percent year-on-year to HK$1,530 million (2020 1H: HK$845 million). Profit attributable to the shareholders for 2021 1H was HK$3,380 million (2020 1H: HK$1,073 million).

Integrated Logistics (‘IL’) business recorded a segment profit of HK$1,292 million (2020 1H: HK$1,139 million) and International Freight Forwarding (‘IFF’) business recorded HK$1,437 million (2020 1H: HK$379 million), which represent an increase of 13 percent and 279 percent, respectively.

William MA, Group managing director of Kerry Logistics Network, said, “The COVID-19 pandemic has entered into a new phase with the worldwide spread of the Delta variant, which has been severely affecting global and domestic supply chains and disrupting business operations at different levels around the world. These disruptions and capacity chokeholds, together with different government approaches and restrictions in tackling the pandemic, have compelled the logistics industry to move towards a growing focus on service customisation. Leveraging our core competency in providing highly customised solutions, KLN Group capitalised on the opportunities in this new environment and achieved record growth in both revenue and core net profit in 2021 1H.”