[EQUITIES] Mirae Asset Daewoo projects record-breaking Q3 profit for CJ Korea Express

[THE INVESTOR] Mirae Asset Daewoo on Oct.6 projected that CJ Korea Express would post a record-breaking operating profit of 61.2 billion won (US$ 548.41 million) in the third quarter of this year on the back of rising demand and overseas sales.

The figure reflects an 18.6 percent rise on-year, according to the brokerage.

CJ Express currently has a 43 percent market share in the domestic logistics industry, and the figure is expected to continue rising to possibly hit 50 percent by 2018, it added. Globally, it is the 17th largest logistics firm.

In 2015, it acquired Rokin, the largest chilled transportation firm in China. And in August this year, it established CJ Speedex, a joint courier firm it formed with China’s third-largest appliance maker TCL. It also acquired Century Logistics in Malaysia to become the largest logistics firm in that country.

By Kim Ji-hyun (jemmie@heraldcorp.com)