QEX Logistics - FY18 results ahead of initial targets
QEX was able to exceed all of its four key operating measures (KOM) targets for FY18, with sales turnover growing by 42% y-o-y and gross margin at 16.0% (vs initial target of 14.3%), assisted by solid demand for dairy products. The company’s recently launched Australian operations performed ahead of expectations, although local competitors have already reduced prices to strengthen customer retention. FY19 targets are likely to be revised upwards by 31 May, with the sales turnover target to exceed the FY18 figure by more than 10%, according to management.QEX Logistics Ltd. QEX Logistics Limited is a New Zealand-based cross-border logistics company. The Company facilitates storage, supply, packaging, customs clearance and delivery of products bought from New Zealand stores and online sites by individual consumers from China. The Company handles supply chain operations for health supplement products, infant formulas and dairy products. Its subsidiaries include New Y Trading Limited for the New Zealand operations, Shanghai Ditu International Freight Forwarder Co., Limited for the China operations and New Y Trading (AUS) PTY Limited for Australian operations. The New Zealand operations include export of health supplements, warehousing, repacking and supply chain services for bulk baby food products. The China operations include custom clearance services, manifest preparation and clearance, customer services, and inventory management. It Australian operations focuses on cross border logistics services, targeting dairy products and health supplements.
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