Shares of Allcargo Logistics rose nearly 7% following the company’s announcement of its highest-ever monthly volumes recorded in July 2024. The impressive performance was driven by a significant increase in total logistics volume.
Operational Update
- July Performance: Allcargo Logistics reported a record-breaking total volume of 108,000 tonnes in July. This represents an 8% increase from June 2024.
- Month-on-Month Growth: The volume growth from June to July reflects early preparations for the festive season, typically associated with higher logistics demand.
- Year-on-Year Comparison: Despite the record July volumes, the total volume shows a slight 3% decline compared to July 2023.
Company Outlook
- Optimistic Forecast: Company officials are optimistic about future performance, expecting continued growth as the festive season progresses. They believe that the upward trend will persist.
- Strategic Focus: Allcargo Logistics is concentrating on optimising operations and leveraging market opportunities. The company’s strategic initiatives are designed to capitalise on the anticipated increase in demand during the festive period.
Market Reaction
- Share Surge: Following the positive operational update, Allcargo Logistics’ shares surged nearly 7%
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Allcargo Logistics