Wiseway, an American freight and logistics company, recently expanded into worldwide markets.
According to Fully Loaded, the company recently developed business in China, Japan, Singapore, Vietnam and Indonesia.
"Wiseway continues to leverage its scale and integrated platform capabilities to win new customers who are seeking a one-stop-shop for their day-to-day logistics needs, in the face of pandemic-related challenges and tightening restrictions on shipping capacities," Wiseway Managing Director Florence Tong told Fully Loaded.
Fully Loaded said the company, which recently opened a Los Angeles office, raked in a net profit of nearly $2 million, a 152% turnaround from last year.
"This milestone result for Wiseway, our first full-year net profit after tax since listing in 2018, reflects the strong business momentum in the company and the benefits of our diversification strategy," Tong said, according to Fully Loaded. "We have also continued our strategic investment program, which has delivered scale, diversification and enhanced growth opportunities for the business. Our robust investment program has been aimed at diversifying our income streams, developing our operating infrastructure, and expanding our team’s capabilities to drive growth in freight volumes and revenue. Diversification benefits delivered organic growth across Wiseway’s key divisions of perishables, road transportation, and imports and distribution, which collectively more than doubled in size over the past year and supplemented the steady performance in our core dry air freight business division."
Tong said the company's robust investment program was meant to diversify its income streams, develop its operating infrastructure and expand its capabilities to grow freight volumes and revenue.
"Diversification benefits delivered organic growth across Wiseway’s key divisions of perishables, road transportation, and imports and distribution, which collectively more than doubled in size over the past year and supplemented the steady performance in our core dry air freight business division," Tong told Fully Loaded.