Investment bank UBS writes today that “Kerry Logistics Network delivered a better-than-expected guidance on H1 20”.

It told investors that “we were overly bearish on the impact of COVID-19 on Kerry Logistics Network (KLN)’s H1 20 results. We thought the company would suffer from an earnings decline but the latest guidance suggested a double-digit growth excluding the loss of revenues from two of its nine Hong Kong warehouses divested in June 2019. As a result, we lift our FY 20E reported core ...

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