eCargo Releases Full Year 2023 Financial Results
Delivering successful B2B strategy and record revenue growth
FY23 Results Highlights:
|
Year ended
|
Year ended
|
Increase
|
%
|
Revenue |
188,201 |
125,399 |
62,802 |
50% |
Gross Profit |
46,431 |
40,409 |
6,022 |
15% |
EBITDA |
9,157 |
8,001 |
1,156 |
14% |
Net Profit |
4,741 |
4,716 |
25 |
5% |
-
Achieved record revenue of
HK$188.2 million , a 50% increase, driven by the success of eCargo’s B2B supply chain platform, Flow
-
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) of
HK$9.2 million , up 14%, reflecting improved efficiency in the business driven by proprietary supply chain technology
-
Statutory NPAT up 5% to
HK$4.74 million (FY22:HK$4.72 million )
- Well-positioned to continue connecting in-demand brands with Chinese consumers, through a comprehensive omnichannel strategy, expansive distribution network and efficient end-to-end supply chain solution
- Strong balance sheet in place to self-fund operations and further grow profitability
Commenting on the FY23 results, eCargo Chief Executive Officer
“Sales on our B2B supply chain platform, Flow, saw significant growth as Small and Medium Enterprise customers seek support in navigating international trade, specifically in sourcing and distribution of products into
“We are pleased to sign on new reputable clients such as Nestlé. We also explored and established new collaboration models with China’s eCommerce platforms such as
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About eCargo
eCargo
View source version on businesswire.com: https://www.businesswire.com/news/home/20240228221386/en/
For further information, please contact:
Investor Relations
eCargo
rosamondzhou@ecargo.com
+852 2233 2787
Corporate Marketing
eCargo
jesselun@ecargo.com
+852 2233 2721
Source: eCargo