FSG Reports Profit Of HKD 142,584,000 For Six-Month Period Ended 30 June 2015
FSG’s revenue for the first six months of 2015 increased more than six-fold over the same period of 2014
Fully operational aviation and logistics platform, with three bases of operation spread across east and central Africa and recent acquisitions now integrated into the platform
Sale of financial assets provides liquidity for future acquisitions and adds substantially to profit for the interim period
HONG KONG--(Business Wire / Korea Newswire) August 19, 2015 -- Frontier Services Group Limited (“FSG”) (SEHK: 00500), a publicly listed, complete logistics solutions provider targeting frontier markets with an operational headquarters in Nairobi, Kenya, today reported interim earnings for the first six-month period of 2015.
FSG delivered a profit for the interim period of HKD 142,584,000, with revenue for the first six-month period increasing more than six-fold over the same period of 2014, demonstrating management’s strategy of acquiring and operating best-in-class aviation, ground transportation, and related logistics assets in fast-growing African markets.
Gregg Smith, CEO of FSG, said, “We are pleased with our progress and how the company is positioned for continued growth.” Mr. Smith added, “We intend to continue to make complementary acquisitions and expect to also benefit from organic growth.”
FSG’s gain for the interim period was buoyed by the disposal of available-for-sale financial assets, enhancing the company’s cash position as it looks to accelerate its pace of announced acquisitions in the second half of 2015 and explore opportunities for large-scale logistics programs across the African continent.
About Frontier Services Group:
Frontier Services Group Limited (“FSG”) (SEHK: 00500) is a publicly listed company on the Hong Kong Stock Exchange with its headquarters in Nairobi, Kenya. FSG provides complete logistics solutions in frontier markets with a particular focus on Africa. Serving sectors across oil and gas, mining and humanitarian relief organizations, FSG is able to support customer’s needs around moving goods, material and people in to, and out of, some of the fastest growing, but more difficult operating environments in a safe, reliable and cost-effective manner.
For Further Information Please Visit: www.FSGroup.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20150817005801/en/
Frontier Services Group Limited
+852 9132 8828
This is a news release distributed by Korea Newswire on behalf of this company. Learn more