A 24 percent increase in Kerry Logistics International Freight Forwarding (IFF) profits pushed growth in the company\u2019s core net profit up 4 percent, to US$142.1 million for 2016, as total revenue increased 14 percent, to $2.71 billion.
\nThe IFF division growth was propelled by contributions from recently acquired Apex Maritime in the US, and strong performance in Asian markets. Kerry\u2019s International Logistics division also posted strong numbers despite a \u201cbearish market,\u201d accounting for 79 percent of the Group\u2019s total segment profit. Greater China remained a major contributor to revenues.
\nThe latest numbers substantiate the company\u2019s plans to offload its 15 percent stake in Hong Kong cargo terminal Asia Airfreight Terminal Company (AAT), to invest in the Commonwealth of Independent States (CIS) and focus on its e-commerce business, where cross-border e-commerce is particularly strong between Greater China and ASEAN. Kerry noted that it had won new e-commerce customers in Vietnam.
\nKerry\u2019s CIS investments are part of an ongoing buildup along trade routes between Asia and Europe in line with China\u2019s strategic \u2018One Belt One Road\u2019 initiative. Without naming the company, Kerry said that it entered into \u201cdefinitive agreements in 2016 to acquire a controlling stake of a freight forwarding group based in the region.\u201d The statement said that, \u201cthe acquisition scheduled for completion by May 2017 will open the door to potential markets with growth prospects.\u201d
\nGeorge Yeo, chairman of Kerry Logistics, explained that the company was \u201cexpanding our network by sea, air, road and rail.\u201d He added that, \u201cthe acquisition of the freight forwarding group in CIS countries will significantly expand our coverage in Central Asia. The opening of new road and rail freight routes from China to Europe and Pakistan will enable us to offer different options to our customers.\u201d
\nYeo also hinted at protectionist currents in the global economy, noting that, \u201cwhatever changes may result from policy changes in the US and other countries, Kerry Logistics stands ready to help our customers adjust to them quickly and optimally. \u201d
\nThose interested in learning more about airfreight in 2017, should join us at Cargo Facts Asia in Shanghai, 25 \u2013 26 April. \u00a0To register, or for more information, go to\u00a0CargoFactsAsia.com<\/p>\n
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\nSource: aircargoworld<\/p>\n","protected":false},"excerpt":{"rendered":"
A 24 percent increase in Kerry Logistics International Freight Forwarding (IFF) profits pushed growth in the company\u2019s core net profit up 4 percent, to US$142.1 million for 2016, as total revenue increased 14 percent, to $2.71 billion. The IFF division growth was propelled by contributions from recently acquired Apex Maritime in the US, and strong[…]<\/a><\/p>\n","protected":false},"author":1,"featured_media":2353,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[49],"class_list":["post-2352","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-airport-code"],"_links":{"self":[{"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/posts\/2352","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/comments?post=2352"}],"version-history":[{"count":0,"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/posts\/2352\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/media\/2353"}],"wp:attachment":[{"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/media?parent=2352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/categories?post=2352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.actlogistics.vn\/kr\/wp-json\/wp\/v2\/tags?post=2352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}