CJ Logistics has released its financial results for Q3 FY2019 reporting sales of KRW*2621.8bn, a year-on-year increase of 8.4%. The company reported a gross profit of KRW247.2bn, an increase of 7.4% year-on-year. Operating profit grew by 67.7% to KRW88.7bn. This led to a net profit increase of 124.1% year-on-year, to KRW13.0bn.
The company’s Global division reported sales of KRW1148.5bn, an increase of 13.6% year-on-year. Gross profit increased by 13.7% to KRW99.0bn. Growth in the division was driven by acquired companies securing local and winning new contracts with major clients.
The Parcel division’s sales saw an increase of 13.0% to KRW664.3bn. The company reported a gross profit of KRW69.8bn, a year-on-year increase of 94.7%. The increase was primarily driven by increased volumes and maximising the utilisation of Megahub Gonjiam by starting fulfilment service.
The Contract Logistics division reported a sales decrease of 1.2% to KRW640.3bn. Gross profit decreased by 3.9% to KRW65.0bn. The decrease was primarily due to a decline in port and delivery sales.
Source: CJ Logistics
*$=KRW1195 / €=KRW1317
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