FMHB ... Dec09

It expects to continue recording positive growth in 2010 amid the global uncertainties.

Most of FMHB's growth next year will come from expanding existing businesses of sea and air freight forwarding, tug and barge services, and positive performance of overseas offices.

The group has not felt much of an impact from the US economic slowdown as volume of its sea and airfreight continues to rise. The haulage service, which commenced in January 2008, has been profitable and contributed significantly to the group's profit in 2009, with the total fleet of 30 prime movers and 150 trailers fully commissioned as at August.

The introduction of haulage service to existing customers have minimised profit leakage to third parties. In this respect, the group outsourcing of this service to third parties had also reduced significantly.

For the financial year ended June 30 2009, FMHB posted a net profit of RM13.6 million against RM12.2 million previously.

Revenue increased by RM7.4 million or 3.3 per cent as compared with financial year 2008, mainly due to growth in domestic and land transportation services namely warehouse and distribution, customes brokerage and haulage.

Despite the decline in seafreight, airfreight and railfreight services due to slower demand caused by the global financial crisis, they were able to register a pre-tax profit of 17 per cent.

This was achieved mainly through the group's diverse range of services and emphasis on efficiency and excellent customer service.