Mike King, Special Correspondent | Mar 30, 2012 11:42AM EDT
Kerry Logistics booked substantial growth in turnover and profit last year as its investments in China and Southeast Asia started to pay off.
The Hong Kong-based company saw profit increase 11 percent to $95 million as revenue soared by 47 percent to $2.061 billion.
The company said its integrated logistics division had seen revenue increase by 43 percent, driven by expansion in Taiwan, the flow of manufacturing activities into Asean countries and new demand as a result of China’s shift “from an export-led economy to a domestic-consumption-led growth model.”
Kerry’s forwarding segment also delivered strong gains, with revenue up 51 percent to $1.18 billion and net profit from operations soaring 200 percent to $11.6 million.
“During the year, the segment leveraged increasing economies of scale and a growing capability in intra Asia and Asia-Europe trade lanes while it gained solid ground in serving the growing import requirements in the markets where it operates,” said a statement from Kerry.
Contact Mike King at michael@borderline.eu.com.
