Malaysia: Freight Management profit up 61%

• Feb 19, 2021

PETALING JAYA: A double-digit growth in international freight services helped to lift Freight Management Holdings Bhd’s net profit by over 61% year-on-year (y-o-y) in the second quarter ended Dec 31,2020.

The company told Bursa Malaysia that its net profit in the October-December 2020 period rose to RM6.65mil as compared to RM4.12mil a year earlier.

Revenue increased by almost 15% y-o-y to RM170.69mil.

International freight services, which contributed nearly three-quarters of the company’s quarterly top line, recorded a 19% y-o-y increase in revenue.

Source: https://www.thestar.com.my/business/business-news/2021/02/19/freight-management-profit-up-61