Kerry Logistics Network Limited announced that its first-half revenue dropped by 47% year-over-year to US$3.2 billion, while its core operating profit plunged by 84% to US$72.4 million and core net profit fell by 85% to US$46.9 million.
Vic Cheung, managing director of Kerry Logistics Network, said, “In 2023 1H, global trade volume and growth remained subdued. Freight rates and volume stayed depressed while supply chain demand remained stagnant.”
He added, “During the three years ended 31 December 2022, KLN Group’s flexible and innovative supply chain solutions enabled it to benefit from the supply and demand mismatch during the pandemic and achieved exceptionally good results.”
