Swift Haulage Bhd Announces New PBT of RM 47.8 on MLN Ahead of Listing on Main Market

Source: Shutterstock

Swift Haulage Bhd has announced a profit before tax (PBT) of RM 47.8 million in the third quarter, which ended the third quarter on Sept 30, 2021. The news was ahead of its listing on the Main Market of Bursa Malaysia Securities Bhd on Dec 21, in news announced by Bernama.

Profits Indicate a Healthier Market State, Although MCO Still Make a Dent

For the period under review, the integrated logistics service provider registered revenue of RM 430.9 million.

Swift Haulage Group chief executive officer Loo Yong Hui said the company's performance for the period under review was impacted by the Movement Control Order, which was implemented nationwide on June 1, 2021.

Adding that some assumed their business was an ‘essential service’, any non-essential customers had to immediately cease services, with ‘essential’ customers only operating at around 60 per cent capacity.

With a container haulage total of RM 203.2 million and land transportation of RM 128 million, these two areas of business contributed 77% to the group’s overall revenue, with its warehousing and container depot and freight forwarding business contributing RM55.6 million and RM43.6 million respectively to group revenue.

Source: Bernama

About the author

Adrian, located in Madrid, is joining the editorial team as a correspondent for the Valebridge Publications Ltd Group. Before starting in 2020 for Truck & Bus News, Adrian graduated with an English degree before working within marketing and recruitment in the non-profit sector. Recently he changed direction, undertaking a course in Marketing and International Business as a means towards moving into the journalism field, which he counts as his lifelong ambition.

Email: adrian.stuart@retreadingbusiness.com

Phone: (44) 1270 668 718

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