Kerry Logistics (00636) announced results for the year ended December 31, 2023, and the group achieved revenue of 47...
According to the Zhitong Finance App, Kerry Logistics (00636) announced the results for the year ended December 31, 2023. The group obtained revenue of HK$47.408 billion, down 42% year on year; core net profit of HK$1,214 million, down 69% year on year; profit attributable to shareholders was HK$791 million, down 78% year on year; and plans to pay a final dividend of HK13 cents per share.
The overall segment profit of the integrated logistics business declined by 7%, mainly due to the decline in business in Hong Kong, China. Business performance in Hong Kong, China declined due to adverse factors such as reduced demand for pandemic-related services and a slower than expected retail market recovery. However, with the exception of the decline in business performance in Hong Kong, China, the integrated logistics business in other markets recorded growth.
In mainland China, although market recovery has slowed, the integrated logistics business recorded 17% growth due to the Group's successful implementation of a series of cost management measures aimed at streamlining business operations in China, including adjusting the number of employees and optimizing warehouse use, and increasing production capacity and reducing costs through the application of robotics technology and artificial intelligence.