2GO erases losses after economy reopens

Logistics service provider 2GO Group Inc. returned to profitability last year after booking a robust revenue growth supported by the economy's rebound. In a disclosure on Thursday, the SM Investments Corp. subsidiary reported it realized profits amounting to P312 million last year, a turnaround from the P1.14-billion net losses in 2021. Top line figures, meanwhile, grew by 25 percent to P19.3 billion following the easing of mobility restrictions. "Improving market conditions aided volume momentum in shipment of goods while the holiday season boosted passenger numbers," 2GO explained. Revenues from logistics and other services were supported by growth in cold chain services, f...Keep on reading: 2GO erases losses after economy reopens

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