Wiseway refuses to be diverted by virus


China-facing T&L firm reports boost from new divisions

Wiseway refuses to be diverted by virus
Wiseway is undeterred

 

Listed and local and international transport & logistics firm Wiseway Group has offered a bullish assessment of its first calendar quarter for 2020.

The sentiment comes as Wiseway looks to shake off coronavirus Covid-19 disruption.

The China-focused firm highlights:

unaudited sales revenue of $25.1 million, an increase of $3.7 million or 17 per cent on the previous corresponding period, supported by growth in new business divisions including perishables.

higher freight volumes of 19,127 tonnes, up by 10 per cent largely from stronger sea freight.

major new Australian customer wins due to the business maintaining its freight capacity in a tightening market.


Read how things looked for Wiseway late last year, here


As an essential service provider during the Covid-19 pandemic, Wiseway notes it has continued to operate its import and export services between Australia and China.

"We have seen demand for Wiseway’s services grow in this period and we have been able to leverage the scale and flexibility of our global logistics platform to meet increased demand," CEO Roger Tong says.

"In particular, we have seen strong growth in business from new customers for our perishables freight offering from a number of large Australian exporters.

"As a result, we reached a milestone of two million kilograms of freight forwarded in our new perishables business this quarter.

"We are proud that as an organisation we are able to continue to provide this essential service and support international trade at a time when it is most needed."

Revenue for the financial year to date is higher, $69.8 million, up 2 per cent on the previous corresponding period, the company says.

"Currently, demand for logistics services remains high," it adds.

"However, due to the unprecedented nature of this global pandemic, this may vary as the situation develops over time.

"The breadth and depth of our diversified logistics services, our highly experienced management team, and the risk management plans we have put in place, position Wiseway to actively manage its operations and maximise its outcomes in the prevailing operating environment.

"The Board and Management of Wiseway are focused on supporting our employees, customers, broader community and international trade during these anxious and difficult times."

Roger Tong

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