Swift Haulage announced its third quarter results recording a revenue of RM183.1 million, gross profit of RM50.8 million and profit before tax of RM8.1 million and profit after tax of RM5.7 million which is significantly lower that 3QFY23 of RM28 million.

Decline was mainly due to high base effect, as the group recognised higher other income in 3QFY2023 from a gain on bargain purchase through the acquisition of a 17.5% stake in Global Vision Logistics.

Revenue was primarily contributed by container haulage (RM72.4 million) and land transportation (RM63.1 million), collectively amounting to 74.0% of total Group revenue. Other business segments such as warehousing and container depot and freight forwarding contributed RM30.3 million and RM17.2 million respectively to 3QFY20
For the financial period-to-date ended 30 September 2024 ("9MFY2024"), Swift Haulage delivered revenue of RM535.3 million, gross profit of RM148.4 million, PBT of RM43.4 million and PAT of RM35million compared to RM48 million the year before.

Revenue for the group was mainly contributed by container haulage (RM209.6 million) and land transportation (RM192.8 million). These key segments collectively made up 75.2% total Group revenue. Other segments such as warehousing and container depot and freight forwarding business contributed RM85.6 million and RM47.1 million respectively to 9MFY2024 revenue.

As at 30 September 2024, Swift Haulage's balance sheet remained robust sporting a cash position of RM45.9 million whilst net gearing stood at a healthy 1.04x against shareholders funds' of RM730.1 million.