Kerry Logistics announces new appointment and half-year figures

Kerry Logistics has revealed its new managing director for its Integrated Logistics (IL) division is John Parkes, who will be based in Hong Kong and will oversee the management of the company’s global IL business.

Parkes has previously held operational leadership positions in major logistics businesses, specialising in multi-country business development and management, mergers and acquisitions, and global account management.

Prior to joining Kerry Logistics, Parkes was the executive director – head of Hong Kong/Taiwan and global business development at LF Logistics.

William Ma, group managing director of Kerry Logistics, commented: “Parkes’ s in-depth knowledge and on-the-ground experience in the logistics industry and global supply chains make him an excellent captain to steer our course in these challenging times of accelerated supply chain shifts. With his insights and expertise, we can make great strides in our global IL business.”

Parkes added: “As the logistics industry undergoes rapid change in the face of new demands and technological advances, I look forward to giving my best to reinforce Kerry Logistics’ position and grow its business through formulating sustainable strategies and devising innovative solutions that cater to our customers’ needs and accommodate emerging trends.”

Half-year figures

Today, Kerry Logistics also announced its Group interim results for the first six months of 2019 (up to June 30).

The Group’s turnover increased by 13% to HK$19.8bn; its core operating profit increased by 9% to HK$1.3bn; and its core net profit dropped slightly by 4% to HK$669m.

The company’s profit attributable to shareholders, including the gain from disposal of two warehouses in Hong Kong of HK$2bn, increased by 194% to HK$2.8bn.

Meanwhile, the Group’s IL business recorded a first-half segment profit of HK$1.2bn (2018 1H: HK$1,107 million) and its international freight forwarding (‘IFF’) business recorded a profit of HK$288m (2018 1H: HK$235m), which represent an increase of 5% and 22%, respectively.

Ma stated: “Global economic growth is expected to remain weak in 2020, as policy uncertainties and geopolitical tensions continue to cloud the trade environment.

“The current political and social disquiet in Hong Kong, which is the Group’s key market, is expected to adversely impact the Group’s performance in 2019 2H. Nevertheless, the Group is in a resilient position to withstand difficult market conditions, sustained by its expanding global network and diverse range of businesses.

“Taking into consideration the challenging market outlook, the Group will remain watchful and keep reinforcing its foundation through enhancing its service capabilities, expanding its network presence and enlarging its business scale.”