In today’s briefing:
- Q323 Another Tough Quarter for Kerry Express Thailand (KEX) | Negative Read-Through for J&T Global
Q323 Another Tough Quarter for Kerry Express Thailand (KEX) | Negative Read-Through for J&T Global
- KEX’s EBIT margin fell to -38% in Q323, but showed Q/Q improvement vs Q223
- Q/Q progress on margin most likely due to KEX initiatives, not market recovery
- Ongoing weakness in Thai domestic express market marginally negative for J&T
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