Swift Haulage Bhd achieved a pre-tax profit of RM17.092 million profit on the back of a turnover of RM160.3 million for the first quarter of 31 March 2022 from a pre-tax profit of RM14.473 million on the back of a turnover of RM153.115 million previously.
In a Bursa filing, it said that the Group’s revenue increased by RM7.2 million from RM 153.1 million in 1Q2021 to RM160.3 million in 1Q2022, and the improved revenue was mainly driven by the easing of Covid-19 restrictions and recovery of business activities.
It said that the Group will continue to focus on expanding its customer base domestically and regionally. With the expansion of our warehouse capacity with the completion of the extension of our warehouse with 200,000 sq ft in Tebrau, Johor and 109,000 sq ft extension of warehouse in Seberang Perai, Penang during the first half of 2022, and 178,000 sq ft new warehouse in Port Klang Free Zone, Selangor scheduled to be completed in the third quarter of FY2022 (“3Q2022”) to contribute to 2022 financial year topline and bottom-line.
Overall, it said that the warehouse capacity will increase by approximately 46.0% in FY2022 and ultimately will improve our financial performance as we continue our growth journey. We will continue to maintain our strategy to focus on servicing our customers with innovative logistics solutions and expand our logistics capacity which includes mergers and acquisitions when it is beneficial to enhance shareholders’ value.
