Global cargo volumes down in 6 months of 2023

Kerry Logistics Network Ltd. announced the Group’s interim results for the six months ending 30 June 2023. Vic Cheung, Managing Director, Kerry Logistics Network, said, “In 2023 H1, global trade volume and growth remained subdued. Freight rates and volume stayed depressed, while supply chain demand remained stagnant. During the three years ended 31 December 2022, its flexible and innovative supply chain solutions enabled the group to benefit from the supply and demand mismatch during the pandemic and achieved exceptionally good results. Although the group’s core net profit reported a dip of 85 per cent in year-on-year terms, the performance in 2023 Q2 recorded more than 30 per cent quarter-on-quarter growth.