Expolanka Holdings PLC has continued to make steady progress in their business operations during the Financial Year 2019/20. The Group’s core logistics business, under the flagship EFL brand, registered promising results in the year under review.
Reviewing the trade lane performance, the Group continued to see encouraging progress on the Trans Pacific Trade lane whilst maintaining its position in the Indian Sub-Continent operations.
“The Far East operations too performed satisfactorily during the year, despite all the challenges. Our relentless focus on optimizing customer performance enabled us to retain our market positions,” Group CEO of Expolanka Holdings Plc, Hanif Yusoof said in the Company’s Annual Report -2019/2020.
A focused customer acquisition strategy followed by the Group continued to produce excellent results enabling us to increase our reach in existing markets as well as break into new customer verticals.
“We were able to secure several new strategic customers gaining traction in the technology, automotive, pharmaceutical and perishable verticals. We were able to leverage on EFL’s strong ground presence in East Asia to tap into the higher cargo flows originating from regional economies which appeared to be benefitting from the strained US-China trade relations.”
“Meanwhile, in the midst of yield volatility caused by price fluctuations and capacity challenges in the global freight industry, we mobilized to consolidate EFL’s air freight operations, while applying yield management strategies to safeguard margins in the sea freight operation.”
The Group’s leisure sector too performed satisfactorily in 2019/20. The Corporate travel segment, which accounts for a larger portion of the leisure sector operation performed as per expectations despite increasing competitive pressure.
However, the leisure sector was unable to overcome negative headwinds in its Inbound and Vacation segments. Both segments suffered due to the slowdown in tourist arrivals after the Easter Sunday attacks in April 2019.
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