J&T Express Achieves Profit in H1 2024, China Market Profitable for First Time

Money Bizwiz Team
2 Min Read

J&T Global Express Limited Announces Strong Performance in 2024

Solidifying its leading position in Southeast Asia with rising market share, while its parcel volume growth in China outpaces the industry.

HONG KONG, Aug. 20, 2024 /PRNewswire/ — J&T Global Express Limited (“J&T Express” or “J&T” or “the Company”, stock code: 01519), a global logistics service provider, announced its 2024 interim results for the first half of the year. The Company reported a revenue of US$4.86 billion, a 20.6% YoY increase, with core business revenue reaching US$4.74 billion, marking a 33.7% increase. Gross profit showed a major growth of 176.8% to US$540 million. Net profit turned positive, reaching US$31.026 million.

In the first half of the year, J&T’s total parcel volume increased by 38.3% YoY to 11.01 billion, driven by growth in Southeast Asia, China, and New Markets like Saudi Arabia and Mexico. The Company’s market share in Southeast Asia grew to 27.4%, while parcel volume in China increased by 37% to 8.84 billion.

Dylan Tey, Chief Financial Officer of J&T Express, commented on the positive results and profitability achieved in China for the first time. Revenue in China reached US$3 billion, with adjusted EBIT turning positive at US$59.595 million.

J&T’s dominance in Southeast Asia continued for the fourth consecutive year, with market share expanding to 27.4%. In New Markets, revenue surged, and operational optimizations led to improved financial performance.

Looking ahead, J&T Express aims to enhance its service experience globally, focusing on automation, network expansion, and customer satisfaction. The Company remains committed to its mission of providing integrated logistics solutions efficiently.

About J&T Express

J&T Express, founded in 2015, is a global logistics service provider with leading express delivery services in Southeast Asia and China. The Company’s network spans thirteen countries, connecting the world through innovative logistics solutions.

Share This Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *