Swift Haulage announced its second quarter recording revenue of RM165.1 million with a gross profit of RM50 million and profit before tax of RM12.0 million. The group said the revenue was primarily contributed by container haulage (RM65.0 million) and land transportation (RM59.7 million), collectively amounting to 75.5% of total Group revenue. Other business segments such as warehousing and container depot and freight forwarding contributed RM25.1 million and RM15.3 million respectively to 2QFY2023.
For the financial period-to-date ended 30 June 2023, Swift delivered revenue of RM329.9 million, gross profit of RM101.1 million and PBT of RM24.8 million. Revenue was mainly contributed by container haulage (RM133.3 million) and land transportation (RM119.4 million). These key segments collectively made up 76.6% total Group revenue. Other segments such as warehousing and container depot and freight forwarding business contributed RM47.2 million and RM29.7 million respectively to 1HFY2023 revenue.
In comparison to the preceding year’s corresponding period, Group revenue increased by 2.9% (RM9.4 million) from RM320.4 million in 1H2022. Revenue growth was mainly driven by the additional revenue generated from an increase in fleet capacity for Land Transportation and higher revenue from the Warehousing business segment as three new warehouses were completed in FY2022. Gross profit increased marginally from RM100.9 million, whilst PBT decreased by 26.5% (-RM9.0 million) from RM33.8 million. This was mainly due to higher finance cost, depreciation, and overhead expenses.
The Board of Directors has declared a first interim single tier dividend of 0.8 sen per ordinary share, in respect of the six months financial period ending 30 June 2023.
