2Go delivers P312M profit in 2022

2GO Group Inc., a subsidiary of SM Investments Corp., posted turnaround profits of P312 million in 2022 on the back of P19.3 billion in revenues. Group revenues grew 25 percent as the company benefited from the country’s economic reopening and complete lifting of movement restrictions. Shipping revenues rose 67 percent, as revenues in its passenger travel business grew 217 percent, complemented by an increase in sea freight revenues of 48 percent. Improving market conditions aided volume momentum in the shipment of goods, while the holiday season boosted passenger numbers. Logistics and other services revenue grew 30 percent, led by the growth in cold chain services, forwarding, e-commerce fulfillment, and its international courier business. (PR)