PETALING JAYA: CJ Century Logistics Holdings Bhd returned to the black, with a net profit of RM11.06mil for the third quarter ended Sept 30, 2021 (Q3’21), thanks to gain on disposal of a subsidiary operating the courier services.
This compared with a net loss of RM544,000 in Q3’20.
For the quarter in review, CJ Century posted a lower revenue of RM187.82mil compared with RM197.29mil in Q3’20, due to lower activities in procurement logistics services segment.
Year-to-date, CJ Century posted a net profit of RM633,000 on revenue of RM638.85mil, compared with a net loss of RM4.8mil and revenue of RM417.8mil in the corresponding period last year.
CJ Century CEO Steven Teow said the group was optimistic that it could perform better in Q4’21 and future years.
“Despite the gloom brought about by the pandemic, it has brought about positive opportunities to us as it gave us a chance to relook at ourselves and realign our business strategies towards targeting new areas for growth, while the loss-making courier services has been disposed of,” he said in a statement.
“Our focus on providing effective logistics solutions has enabled us to retain our key customers as well as healthily growing our customer base,” he added.