Investor Alert issued for China Logistics Group, Inc.
CHLO First Quarter Revenues Soar 69% to 5.4 Million as the
Company Continues to Rebound from the Recent Economic Crisis
BREAKING NEWS: China Logistics Group Reports
Financial Results for the First Quarter of 2010
Before the markets opened today, China Logistics Group, Inc. (OTCBB: CHLO) issued a press release announcing its financial results for the first quarter of 2010. According to the release, net revenues for the first quarter of 2010 were $5.4 million, an increase of 69% compared to the $3.2 million recorded in the first quarter of 2009. The increase in revenue is largely attributable to a stronger overall business environment in 2010 as compared to 2009.
Commenting on China Logistics Group financial performance, Wei Chen, its CEO and Chairman stated, "We are pleased with our performance in the first quarter. We increased sales over 69% from the same period in 2009 and were operationally profitable for the first quarter of 2010. Our efforts to cut costs reduced operating expenses as a percentage of revenue and our business climate has significantly improved creating positive momentum for our business as we move into the remainder of 2010. We believe our business will continue to improve as the demand for logistic services in and out of China continues to grow and we intend to work diligently on behalf of our company and its shareholders."
http://www.wallstreetenews.com/fullstory.php?id=1861
Reasons to Consider CHLO Today
The total social logistics in China valued RMB 96.65 trillion ($14.0 Trillion) in 2009, up 7.5% over the same period of previous year. In each quarter of 2009, the total amount of social logistics grew at an increasing speed, and the increasing trend surpassed the declining trend in Q3 of 2009, leading to the cumulative growth rate of 2%. (Research in China's China Logistics Industry Report, 2009-2010)
In 2009, China delivered 27.44 billion tons of cargos, up 12.2% year on year - Waterway Freight volume accounted for 11.44%.
CHLO First Quarter Revenues Soar 70% to 5.4 Million as the Company and China's Logistics Industry Continues to Rebound from the Recent Economic Crisis
China Logistics Group, Inc. is a U.S. company doing business in China through its subsidiary Shandong Jiajia International Freight & Forwarding (Shandong Jiajia), an international freight forwarder and logistics manager that was established in 1999.
Sales for the First Quarter ending March 31, 2010 increased to $5.4M a 70% increase from the First Quarter of 2009. This was a result of the increased global demand for Chinese-sourced exports to other countries.
http://www.wallstreetenews.com/view-company-profiles.php?profile=CHLO_060110
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