August 7, 2019 in FINANCIALS
APL Logistics: Financial Results for the First Three Months of the Fiscal Year Ending March 31, 2020 [J-GAAP] (Consolidated)*
Singapore, 7 Aug 2019
Logistics services for automotive showed weaker performance compared to a year earlier due to a decrease in the handling volume in the U.S. driven by a slowing global auto market. For retail-related logistics service, the handling volume in logistics services showed a steady growth mainly in major customers, and consumer and other industrial products also showed solid growth.
As a result, net sales of APLL decreased 4.1% to 44,365 million yen, but operating income rose 83.5% to 2,298 million yen through efforts to improve operating margin including reduction of selling, general and administrative expenses. Segment income was 788 million yen (segment loss of 255 million yen a year earlier) as amortization of goodwill related to APLL acquisition is still included in this segment.
*reference from KWE Q1 financial result public release