足彩app:Swift Haulage to expand its customer base
KUALA LUMPUR: Swift Haulage Bhd, which posted a net profit of RM11.7mil in the third quarter ended Sept 30, continues to focus on broadening its customer base domestically and regionally via the expansion of its warehouse capacity.
“The ongoing expansion of its warehouse capacity remains on track. Namely; 200,000 sq ft in Tebrau, Johor (commenced operations in 1Q22), 109,000 sq ft in Seberang Perai, Penang (commenced operations in 2QFY2022) and 178,000 sq ft new warehouse in Port Klang Free Zone, Selangor scheduled to be completed in fourth quarter of FY22.
“These additional warehouses have brought Swift’s warehousing capacity up to approximately 1.2 million square feet and will contribute positively to the FY22 top-line and bottom-line. Overall, warehouse capacity is slated to increase by approximately 46.0% by the end of FY22,” the integrated logistics service provider said in a statement.
Its revenue in 3Q22 rose 19.25% to RM159.25mil from RM133.54mil.
The group’s revenue was primarily contributed by container haulage (RM69.5mil) and land transportation (RM51.3mil), these segments collectively represented 75.8% of total group revenue.
Other business segments namely warehousing and container depot and freight forwarding contributed RM21.2mil and RM16.4mil respectively to 3Q22 revenue.,
For the first nine months, Swift posted a net profit of RM39.2mil, or 4.42 sen earnings per share on revenue of RM479.7mil.
As at Sept 30, Swift’s balance sheet remained robust sporting a cash position of RM23.8mil whilst net gearing stood at a healthy 0.89 times against shareholders' funds of RM656mil.
Group chief executive officer Loo Yong Hui said: “Our results continue to be driven by the robust container haulage and land transportation segments. On a year-on-year basis, all our segments have performed better due to the easing of Covid-19 restrictions and an overall recovery of business activities domestically.”
“Despite the decline in international ocean freight since it peaked in CY2021, Swift Haulage has benefitted from an increase in domestic freight volumes. We are optimistic that this trend will continue as the demand for goods from East Malaysia remains robust.
“Swift continues to benefit from the normalisation and improvement in economic activities. With the easing of Covid-19 restrictions globally, this momentum is expected to continue in the coming quarters.
“The demand for warehousing remains strong. Swift Haulage is in a prime position to capitalise on this as our expansion has added approximately 46.0% increase in warehousing capacity,” Loo said.
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