Kerry Logistics Network Limited recorded a 9% year-on-year increase in its core net profit and profit attributable to shareholders for 2015, according to annual results released by the company.
According to Kerry, core net profit was approximately HK$1.06 billion (US$140 million), while HK$1.8 billion (US$230 million) in profit were attributable to shareholders. Profit for the Integrated Logistics business grew 13% and the International Freight Forwarding business unit’s profit was up by 7%.
“In 2015, despite global macroeconomic volatilities and China’s slowing GDP growth, Kerry Logistics continued to implement its strategic plans and delivered sustainable growth for the seventh consecutive year,” said William Ma, group managing director of Kerry Logistics. “All segment profits attained healthy growth as the group continued to apply its core competencies of providing highly customized solutions to a broad spectrum of industries. Successful integration of previous acquisitions, strong performances led by Hong Kong and Taiwan, and improved profitability demonstrated the underlying strengths of the group’s unique business models and synergies achieved from global expansion.”
The group has a number of developments planned for the region in the years ahead, including new facilities in Xi’an, Wuxi and Shanghai, the expansion of the Kerry Siam Seaport, a warehouse in Phnom Penh and the operation of two inland ports in Myanmar.
“Kerry Logistics is becoming the major logistics provider for the Silk Road of the 21st Century, both overland and maritime,” said George Yeo, Kerry’s chairman. “As Asia’s leading 3PL specialist, we are rapidly building a range of capabilities in Southeast Asia, taking advantage of ASEAN’s economic integration. Greater China remains at our core. We are also expanding our presence in South Asia especially in India, the Middle East, and Central Asia including to Russia.”
Yeo added that Kerry is well-positioned to take advantage of the expected growth in the intra-Asian market and between Asia and the rest of the world.
“In difficult times, management attention is naturally focused on cutting cost and improving productivity,” he said. “Good logistics can make a decisive difference. The strengths of Kerry Logistics are more obvious during challenging times. We have every intention to ride the waves and streak ahead.”