Jump in revenue, net profit for FM Global Logistics

PETALING JAYA: FM Global Logistics Holdings Bhd (formerly Freight Management Holdings Bhd) reported a 46% year-on-year (y-o-y) jump in both its revenue and net profit for the fourth quarter ended June 30, 2022 (4Q22) on the back of higher freight rates and business activities.

Revenue rose to RM333.8mil in 4Q22 from RM228.3mil in 4Q21 while earnings climbed to RM12.6mil or earnings per share (EPS) of 2.25 sen from RM8.6mil or EPS of 1.54 sen in 4Q21.

The logistics solutions provider has been on an upward profit trend for this financial year, with the results in 4Q22 being the highest.

On a quarter-on-quarter basis, FM Global’s revenue increased by 3% from RM324.6mil in 3Q22.

In a filing with Bursa Malaysia yesterday, FM Global noted it will continue to place emphasis on enlarging its customer base regionally while improving cost management through operational efficiencies.

It projected business activities will continue to grow but is cautious of the risks that supply chain disruptions and uncertainties of the global economy may bring.

The group has declared a third interim single tier dividend of two sen per ordinary share which is payable on Oct 7, 2022. This is higher than the dividend declared in 4Q21 of one sen.