Kerry Logistics Network Limited today announced the Group's interim results for the six months ended 30 June 2023. Group's Financial Highlights Vic Cheung, Managing Director of Kerry Logistics Network, said, "In 2023 1H, global trade volume and growth remained subdued. Freight rates and volume stayed depressed while supply chain demand remained stagnant. "During the three years ended 31 December 2022, KLN Group's flexible and innovative supply chain solutions enabled it to benefit from the supply and demand mismatch during the pandemic and achieved exceptionally good results. "However, the extraordinary circumstances in 2021 and 2022 proved an anomaly that distorted year-on-year comparisons for logistics companies including KLN Group. "After the particularly difficult 2023 Q1, the Group's overall performance has bottomed out. Although the Group's core net profit reported a decrease of 85% in year-on-year terms, the performance in 2023 Q2 recorded more than 30% quarter-on-quarter growth.