Strong Overseas Logistics... Expansion of E-commerce Volume
CJ Logistics announced on the 9th that it posted provisional results for the second quarter of this year with consolidated sales of 3.0592 trillion KRW and operating profit of 125.4 billion KRW. This represents increases of 3.3% and 11.5%, respectively, compared to the same period last year. Growth in orders, strong logistics business performance in the United States and India, and expansion of cross-border e-commerce (CBE) volumes drove the performance growth.
By segment, parcel delivery and e-commerce business sales reached 942.7 billion KRW, up 2.3% from the same period last year. Operating profit increased by 0.2% to 61.7 billion KRW during the same period. This reflects the effect of volume expansion centered on global e-commerce platforms and fashion and beauty commerce.
The contract logistics (CL) business benefited from the expansion of the W&D (warehousing, storage, and transportation) division. The W&D division attracted numerous new 3PL (third-party logistics) customers in the second quarter of this year based on its logistics consulting capabilities, achieving sales of 339.7 billion KRW, an 11% increase compared to the same period last year. As a result, total sales of the CL business rose 3.3% year-on-year to 737.1 billion KRW. Operating profit also increased by 13.3% during the same period, reaching 42.6 billion KRW.
The overseas business achieved sales of 1.1239 trillion KRW, up 5% year-on-year, and operating profit of 18.5 billion KRW, a 17.8% increase, driven by the expansion of forwarding and CBE logistics businesses and strong performance in key overseas markets such as the United States and India.
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