During the Year under Review, the Group's total revenue amounted to approximately HK$569.0 million, representing a year-on-year increase of 16.7%. Profit attributable to shareholders of the Group amounted to HK$17.3 million, a 54.5% surge relative to the same period last year. Gross profit increased by 18.5% to approximately HK$76.7 million for the year.
Due to a rebound of the shipment volume to normal after a significant drop due to COVID-19 during the previous year, revenue from ocean freight forwarding services increased by approximately HK$34.3 million. As for e-commerce fulfillment services, its revenue increased by approximately HK$77.4 million, mainly attributable to an increase in orders from both new and existing customers during the year. However, the revenue growth was partially offset by the revenue decline of air freight forwarding services, ancillary logistics services and e-commerce trading services. The increase in gross profit was mainly attributable to the increase in e-commerce courier services income outweighing the increase in e-commerce courier services costs and the decrease in warehouse direct costs outweighing the decrease in logistics service income.
Emerging technologies and innovative applications have taken the Logistics Industry to ever challenging advances. The Group has taken steps in stages developing appropriate products and services currently and for the near future. Those offerings included the 8035 Tennichi Active Water for disinfection, and investment was made in proprietary conversion and packaging facilities, which is already available in the market from spring 2022 and creating revenues to the Group. For Cold Chain Logistics, the Group has begun procuring temperature and environmental control technologies required in movement and storage of pharmaceutical, comestible, and beauty care products. As for Fintech Logistics, the Group is committed to establishing Logistical Funding Resources to be able to attach into new era of products, and to be prepared for the integration of big data solutions, artificial intelligence applications and blockchain Composites. Furthermore, the Group is putting much effort into further developing the e-Commerce and Fulfilment Services division, helping it gain a larger market share.
Apart from efforts to promote business development, the Group also made management changes. Mr. Po Kam Hi John has been appointed as the new Chairman of the Board, and Mr. Tsang Zee Ho Paul, previously a non-executive Director, has been appointed as an Executive Director and also the Group's Chief Financial Officer and Company Secretary.
Mr. Po Kam Hi John, Chairman of the Board, said, "Looking ahead, the new management team will lead all staff in working hard on bolstering the Group's competitiveness. In the face of challenges and opportunities brought by the pandemic, we will flexibly adjust business strategies and keep diversifying our products to maintain growth and resilience. On top of fortifying our existing businesses, we will seize opportunities arising from cross border e-commerce traffic from China and overseas to unleash new growth drivers for the Group and create long-term value for all stakeholders."
About Janco Holdings Limited (Stock code: 8035)
Established in 1990, Janco Holdings Limited is a Hong Kong-based 3PL company that principally engages in freight forwarding and the provision of one-stop logistics services. The Company has become a global freight forwarder, providing innovative and technology-driven end-to-end solutions consistent with being an integrated logistics specialist. Its business covers five segments, including cross-border e-commerce logistics solutions, freight forwarding, contract logistics, pharmaceutical and healthcare, and express. In addition, the Company is able to offer a truly global logistics network to customers. For details, please visit: www.jancofreight.com
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