Margin squeeze turns screw on logistics operator CWT's Q2 earnings
Logistics operator CWT has reported a 6 per cent drop in second quarter net profit to $18.1 million.
This was despite revenue rising by 66 per cent to $1.73 billion for the three months ended June 30.
The surge in revenue was contributed mainly by a new product line in commodities supply chain management business.
Gross profit declined by 4 per cent as the commodity supply chain management business experienced margin squeeze and fall in sales volume of certain products.