MIDF Research foresees Swift’s margins rising in 2H24, driven by an anticipated increase in the company’s warehouse utilisation rates.
PETALING JAYA: Despite a weak first quarter (1Q24) performance, analysts remain largely positive on Swift Haulage Bhd
on the hope the logistics service provider’s businesses will pick up in the second half of the year (2H24) and drive earnings.
MIDF Research stated while Swift’s 1Q24 core earnings of RM7.7mil was at 19% of its estimates, it foresees Swift’s margins rising in 2H24, driven by an anticipated increase in the company’s warehouse utilisation rates.
