Record Q4 for Lufthansa Cargo as its faith in ecommerce pays off
Lufthansa Cargo said it had a record set of results in the fourth quarter – ...
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By Alex Lennane
Kerry Logistics Network’s freight forwarding division drove growth at the group, which saw core net profit in 2020 grow 33% to HK$3.32bn (US$234m).
Revenues rose 30% to HK$53.3bn, while its cash position grew some 45%, to HK$8.47bn.
Kerry’s International Freight Forwarding (IFF) arm was “the powerhouse”, said the company, accounting for 28% of the total profit, with its own profit up 64% year on year.
“The growth was mainly driven by a high global demand for pandemic-related goods, as well as production and ...
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