Freight Management earnings improve in 2Q21

By HARIZAH KAMEL

FREIGHT Management Holdings Bhd’s earnings improved by 61.28% year-on-year to RM6.65 million in the second quarter ended Dec 31, 2020 (2Q21), from RM4.12 million in the previous year.

Revenue for the current quarter increased 15% to RM170.69 million from RM148.44 million previously, mainly due to an increase of business activities in international freight and domestic logistics.

In a filing to Bursa Malaysia yesterday, the group stated that its international freight and domestic logistics businesses contributed RM126.9 million and RM43.8 million respectively in revenue for the current quarter.

Freight Management said its current year business prospects remain resilient despite the challenges and potential downside risks of the uncertain global economic activities and its supply chain due to Covid-19 pandemic.

“Notwithstanding the challenges, the group remains optimistic and confident of our business and will continue to focus on expanding our customer base regionally and improving cost management via operational efficiencies,” it said.

The group also declared a second interim single-tier dividend of two sen per share to be paid on March 22, 2021.