Fuelled by the increased earnings from the Hong Kong logistics operations and the outstanding performances of Kerry Express Thailand as well as Kerry Siam Seaport in Thailand, the Integrated Logistics division registered a 14 per cent rise in segment profit in 2018, generating 79 per cent of the Group’s total segment profit. The Integrated Logistics business is set to remain the main earnings driver in 2019.
The Group’s International Freight Forwarding division attained steady volume growth in 2018 2H as customers have frontloaded their shipment in advance of the trade tariffs being enforced. The IFF division recorded a seven per cent profit growth and contributed 21 per cent to the Group’s total segment profit in 2018.
Stronger growth is anticipated to persist in Asia, particularly in Southeast Asia and India, owing to increasing domestic consumption and rising investment. Leveraging its established network in Asia to take advantage of the booming intra-Asia trade, the Group’s business growth in Asia is expected to maintain in 2019.