Following impressive growth in 2014, Jade Logistics was affected by a downturn in the global transportation market. Lead times which were 6 -12 months have doubled to an unprecedented 12-24 months.
Annual revenue for the company was $29.8m (2014: $30.0m), and it reported a net loss before income tax of $-3.2m, (2014: -$1.0) following investment in market development and capability.
However, Managing Director and CEO David Lindsay says that the company’s overall revenue performance has been resilient.
“It has been a tough year for sales – as uncertainty has caused significant delays in IT procurement for logistics – but a good year for implementation, support and product development, with a pleasing pipeline of future opportunities,” says Lindsay.
“As well as opening new offices in Jakarta, and Rotterdam, placing Jade’s Logistics product, Master Terminal and its people in the primary international markets where significant spending on ports infrastructure is underway, we also invested in our digital and technologies businesses,” he says.
“With major deployments underway or about to commence, we have hired more people to support the work already started and sales secured early in 2016,” says Lindsay.
“As the fastest growing mixed cargo solution in the market, Jade Logistics is making impressive progress, and this gives us the confidence to invest for our future,” he says.
