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02/06/2012 07:50 AST
China Securities Journal citing the China Federation of Logistics and Purchasing said major logistics companies in China posted a 7.4%YoY growth in operating profit during the first four months of 2012 with the growth rate down 5.8 percentage points from the first quarter.
Warehousing logistics companies recorded a 13.4%YoY rise in operating profit while transportation logistics companies posted a 7.9% increase in operating profit. Road freight companies recorded a 31.1%YoY fall in operating profit.
The China Federation of Logistics and Purchasing attributed the drop in the profitability of logistics companies to the decrease in demand by the overall economy and rises in the costs of fuel, labor and capital.
According to the China Federation of Logistics and Purchasing, the total value of the logistics industry during the first four months rose 10.2%YoY to CNY 52.6 trillion with the growth rate down 0.7 percentage point from the first quarter or 3.6 percentage points from a year ago.
During the first four months, revenue earned by logistics companies rose 15.8% with the growth rate down 0.4 percentage point from the first quarter. Operating expenses increased 16.9% and the growth rate was down 1.4 percentage points from the first three months.
Steelguru
| Ticker | Price | Volume |
|---|
| Index | Closing | Change |
|---|---|---|
| NIKKEI 225 | 36,581.76 | -251.51 (-0.68 |
| DAX | 18,699.40 | 181.01 (0.97 |
| S&P 500 | 5,626.02 | 30.26 (0.54 |
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