CJ Logistics, Operating Profit of 530.7 Billion KRW Last Year... 10.5% Increase YoY

CJ Logistics announced on the 11th that its consolidated financial statements showed provisional sales of 12.1168 trillion KRW and operating profit of 530.7 billion KRW for last year. Compared to the previous year, sales increased by 3% and operating profit by 10.5%, respectively.

By business segment, sales in the parcel delivery and e-commerce division reached 3.7289 trillion KRW, a 0.2% increase from the previous year. This was due to an expansion in volume despite the economic slowdown. However, operating profit slightly decreased to 238.8 billion KRW.

The Contract Logistics (CL) division posted sales of 2.9857 trillion KRW, up 4.6% year-on-year, driven by an increase in new orders based on logistics consulting. Operating profit also rose 28.1% year-on-year to 184.8 billion KRW, reflecting the effects of new orders and productivity innovation projects.

The global division recorded sales of 4.4329 trillion KRW and operating profit of 86.2 billion KRW. Compared to the previous year, sales and operating profit increased by 5.4% and 11.3%, respectively. CJ Logistics explained that this was due to continued growth in local CL businesses in strategic countries such as the United States and India, along with an expansion in forwarding business sales.

Meanwhile, CJ Logistics announced that it will pay a cash dividend of 800 KRW per common share as a 2024 fiscal year-end dividend. The record date for dividends is March 31.