CWT's net profit tumbled 16% to $29.2m in Q1

Due to lower commodity trading volume.

Integrated logistics and supply chain solutions provider CWT reported that its net profit tumbled 16% year-on-year to $29.2m in the first quarter.

CWT's results were impacted by lower commodity trading volume and the significant drop in commodity prices.

The group was also hit with translation losses on a Euro-denominated intercompany loan to a subsidiary and start-up costs incurred for new logistics hubs.

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