Chelsea Logistics and Infrastructure Swings to Profit in 2024

MT Newswires Live

04/29

Chelsea Logistics and Infrastructure (PSE:C) posted a net profit after tax of 177 million Philippine pesos in the 2024, reversing a net loss of 1.14 billion pesos in 2023.

The turnaround is attributable to a 14% rise in revenue of the logistics company to 8 billion pesos, according to a Monday Philippine bourse filing.

The growth is also attributable to a 23% reduction in other operating expenses, which contributed to a tenfold annual surge in operating profit, it added.

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