Freight Management better results

Freight Management Holdings Bhd's (FMH) pre-tax profit for financial year ended June 30, 2012 rose to RM28 million from RM24 million in the same period of 2011. Its revenue surged past the RM300 million mark for the first time, with a year-on-year increase of 10.7 per cent to RM327.1 million. "Net profit grew by 5.9 per cent year-on-year to RM20.9 million due to the impact of higher taxation and minority interests as compared to the previous financial year," it said in a statement today. FMH group managing director, Chew Chong Keat, said this financial year signified another year of good performance for the group, as it has achieved its eighth consecutive year of earnings growth since its listing on Bursa Malaysia in February 2005. "The continued growth of our various logistics-related businesses and positive financial performance is particularly satisfactory when viewed against the backdrop of the ongoing global economic uncertainties and generally softer market conditions," he said. Chew said the current financial year ending June 30, 2013 would prove to be even more challenging with the prevailing global economic headwinds and keen competition in the logistics industry. "Nonetheless, we are positive on the long-term outlook for the logistics industry in our key focus areas of Malaysia and the Asean region. "We view Asean as a sweet spot in the global economy, as countries in this region are displaying relatively robust and strong growth, which will propel trade volume expansion," he said. -- Bernama