CJ Logistics Q1 net jumps 69 pct amid eased virus curbs

SEOUL-- CJ Logistics Corp., South Korea's leading logistics firm, said Monday its first-quarter net profit jumped 69 percent from a year earlier on recovering logistics deals despite the extended COVID-19 pandemic.

Net profit jumped to 31.53 billion won (US$25 million) in the three months ended in March from 18.64 billion won a year ago, the company said in a statement.

"Improving logistics deals in the United States, India and Vietnam boosted sales in the first quarter as countries increasingly eased virus curbs to support their economies," the statement said.

Operating profit rose 57 percent to 75.66 billion won in the first quarter from 48.12 billion won a year ago. Sales were up 6.1 percent to 2.86 trillion won from 2.69 trillion won during the same period.

Source: Yonhap News Agency