In 2024, KLN (formerly Kerry Logistics Network) almost doubled its profit, reaching HK$1.54 billion (+95%). The company’s revenue increased by 23% to HKD58.3 billion, while underlying net profit increased by 12% to HKD1.36 billion.
The main driver of growth was the international freight forwarding segment, where profit increased by 39% due to strong demand in Asia, the US and China, as well as rising rates amid the crisis in the Red Sea. Revenue from industrial project logistics exceeded HKD1.7 billion, and the joint venture at Ezhou Airport brought in more than HKD200 million. The integrated logistics segment showed a slight decline.
The company also announced that the global rebranding from Kerry Logistics Network to KLN will be completed by mid-2025.