News / Forwarding the star of H1, but Kerry paints gloomy picture of next 18 months

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“Outstanding” freight forwarding helped Kerry Logistics to better-than-expected first-half results, but the 3PL warned of “unprecedented chaos” ahead for global supply chains.

Analysts at UBS upgraded the Hong Kong-based 3PL’s outlook late last month, from an earnings decline to double-digit growth, after guidance from Kerry suggested the predicted impact on its business from Covid-19 had been overblown.

This was confirmed by the group’s interim results, released today, which show a 10% year-on-year increase in revenue to HK$21.8bn (US$2.7bn), and a 26% uptick ...