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The Logistics Company has reported a 27% decline in net profit (after tax) for the six months ended 31 December. The drop in profit is mainly due to higher costs on:
The company was also deprived of the one-off tax benefit of US$130 million from a year ago. Below is a summary of key metrics:
With respect to the IFCO reusable plastic container business, the Chief Executive, Mr Chipchase did not provide any concrete information and said that the process “is not sufficiently” advanced, further adding that the company has not yet made any decisions on whether they will “sell” or “de-merge” it.
Its share price dropped to a low of $10.85 which is a drop above 3% before rebounding slightly. As of writing, it is trading at $11.04:
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