Financial News
Written by: Kwong Yueting
2020-08-27 17:22
Last update date: 2020-08-27 17:22Kerry Logistics (0636) profit attributable to shareholders in the first half of this year was 1.073 billion yuan, down 61.5% year-on-year; revenue during the period increased 10% to 21.885 billion yuan. Group President Ma Rongkai expects that factors such as the new crown pneumonia epidemic, global economic recession, and rising geographic tensions will cause unprecedented chaos in the global supply chain in the next 18 months. However, the company has an international logistics network, which is an unprecedented opportunity. Prepare for the country and its scope. At the same time, the company is constantly studying how to optimize its asset portfolio and may sell part of its warehouses in Hong Kong in the future.
Under the epidemic, citizens' lifestyles have also changed. Ma Rongkai said that people have more time to stay at home and tend to use online shopping services. The products cover essential, non-essential and home daily necessities. As a logistics company, Kerry will follow the market and consumer needs to make changes. The epidemic has not yet been seen. When it ends, I believe that cross-border e-commerce can maintain its growth momentum.
Kerry Logistics intends to spin off its KERRY EXPRESS (THAILAND) for listing. The application was accepted by the Thai Securities Exchange in late August. Ma Rongkai stated that the recent Thai demonstrations will have limited impact on the local market and performance, and the withdrawal of Chinese production capacity will be accelerated. In the next few years, the company’s key expansion areas are Southeast Asia, South Asia, and even Turkey, and will continue to look for more investment opportunities.
Kerry Logistics makes 62% less profit in half a year, increases dividend by 20% to 11 sen
Kerry Logistics Interim Results