Delivering successful B2B strategy and record revenue growth
SYDNEY–(BUSINESS WIRE)–#Earnings–eCargo Holdings Limited (ASX: ECG) (ECG, eCargo or the Group) today announced its financial results for the 12 months ended 31 December 2023 (FY23).
FY23 Results Highlights:
|
Year ended |
Year ended |
Increase |
% |
Revenue | 188,201 | 125,399 | 62,802 | 50% |
Gross Profit | 46,431 | 40,409 | 6,022 | 15% |
EBITDA | 9,157 | 8,001 | 1,156 | 14% |
Net Profit | 4,741 | 4,716 | 25 | 5% |
Commenting on the FY23 results, eCargo Chief Executive Officer Lawrence Lun said: “We are pleased to share that our transition from B2C to B2B business in 2022 has played a key role in achieving another successful year, withstanding ongoing supply chain disruptions and a slower-than-expected recovery in China.
“Sales on our B2B supply chain platform, Flow, saw significant growth as Small and Medium Enterprise customers seek support in navigating international trade, specifically in sourcing and distribution of products into China. This is crucial due to the evolving import regulations, currency fluctuations, longer sell-through periods and the need for channel expansion – all areas where eCargo excel in supporting clients.
“We are pleased to sign on new reputable clients such as Nestlé. We also explored and established new collaboration models with China’s eCommerce platforms such as VIPShop, Tmall, JD, and Omall, where we support their product sourcing.”
Full report on ASX: ECG
About eCargo Holdings Limited
eCargo Holdings Limited (“eCargo”) is an ASX-listed supply chain solutions provider helping brands expand in the Asia market, with a specific focus on China. eCargo’s one stop service covers logistics, eCommerce, online to offline distribution, and B2B supply chain solutions. Trusted by brands across different categories, eCargo builds an agile, digitalised, and integrated supply chain infrastructure to drive operational efficiency for brands to deliver omnichannel growth in new markets.
Contacts
For further information, please contact:
Investor Relations
Rosamond Zhou
eCargo Holdings Limited
rosamondzhou@ecargo.com
+852 2233 2787
Corporate Marketing
Jesse Lun
eCargo Holdings Limited
jesselun@ecargo.com
+852 2233 2721
NEW YORK, LONDON & MUMBAI--(BUSINESS WIRE)--$WNS #AnnualReport--WNS (Holdings) Limited (NYSE: WNS), a leading provider of…
CLEVELAND--(BUSINESS WIRE)--Cleveland-Cliffs Inc. (NYSE: CLF) today applauded the International Trade Commission’s (ITC) unanimous decision to…
NEW YORK--(BUSINESS WIRE)--#D2C--A year since its launch under Incredible Indriya, Eze Perfumes, the first direct-to-consumer…
DUBLIN--(BUSINESS WIRE)--The "Asia-Pacific Wind-Assisted Propulsion Market: Focus on Application, Technology, Installation Type, Vessel Type, and…
SINGAPORE, May 10, 2024 (GLOBE NEWSWIRE) -- YY Group Holding Limited (NASDAQ: YYGH) (“YY Group”,…
DUBAI, United Arab Emirates & BENGALURU, India--(BUSINESS WIRE)--$WIPRO #APMEA--Wipro Limited (NYSE: WIT, BSE: 507685, NSE:…