Kerry Logistics sees 33% increase in FY2020 net profit

Stattimes25 Mar, 2021News

Excluding the gain from disposal of two warehouses in Hong Kong in 2019, it represents a remarkable year-on-year growth of 58 percent. In terms of its integrated logistics business, the segment witnessed profit of HK$2,583 million against the previous year?s profit of HK$2,435 million, which represents an increase of 6 percent. The growth in the integrated logistics segment profit was affected by the reduced profit contributed by lesser number of warehouses in Hong Kong compared with 2019. Should this impact be normalised, the segment profit of the business should have increased by 8 percent.