Cargo Handlers Limited (CHL) Reports $500m In Revenue| CVM Business Report| CVMTV

Cargo Handlers Limited (CHL) recently unveiled its audited financial statements for the fiscal year ending September 30, 2023, showcasing a remarkable surge in revenue to $514 million. Despite facing industry challenges, CHL's strategic focus on key segments contributed to its impressive performance, highlighting the company's adaptability and resilience in a dynamically changing market. The operating profit experienced a modest dip to $248 million from the previous year's $267 million. However, CHL's net profit soared to an impressive $322 million, surpassing the $289 million reported in 2022. A notable surge in other operating expenses, primarily driven by increased staff costs from $155 million in 2022 to $203 million in 2023, was highlighted in the financial report. Diversifying its portfolio, CHL disclosed a 30% stake in the ordinary shares of Buying House Cement, headquartered in Montego Bay. This strategic investment significantly contributed to CHL's net profits, amounting to $104 million in 2023, up from $57 million in 2022. Steve Adoring and baggage handling services continued to be the primary revenue generators, amassing $459 million in 2023, showcasing the effectiveness of CHL's core operations. Read More: https://www.cvmtv.com/business/cargo-handlers-limited-chl-reports-500m-in-revenue-amidst-global-shipping-container-supply-contraction/ _____ We're on the scene, bringing you the latest, keeping you up to date on News, Entertainment, Business & Sports! Constantly working to enhance your viewing experience, telling compelling, diverse and engaging stories. ???? Verified and Delivered, News You Can Depend On. ???? Drama, Music, Lifestyle! Watch It All On E-Live Unplugged