Frontier Services Group Reports Full Year Revenue of HK$310 Million
March 27 2015 - 12:18AM
Business Wire
Full Year Highlights
- Delivered Strong Topline Growth
– Generated more than HK$310 million in consolidated revenue in the
first full year of operations in the aviation and logistics
businesses;
- Expanded Operations – Completed
investment in Phoenix Aviation Limited (“PAL”) and announced
acquisition of a ground transportation business in the Democratic
Republic of the Congo;
- Enhanced Board of Directors –
Added three highly qualified, independent non-executive members,
represented by Dr. Harold O. Demuren, Admiral William J. Fallon,
USN (Ret.) and Professor Lee Hau Leung;
- Augmented Executive Leadership –
Added key team members, including Captain Peter Phillips, USN
(Ret.) as Chief Operating Officer and Charles Thompson as Chief
Financial Officer;
- Increased Employee Base –
Reflecting the acceleration of our business and the expansion of
our service platform to meet the growing needs of our customers,
added more than 200 employees to our team during the past
year;
- Developed Core Physical
Infrastructure – Established a world-class operations
headquarters in Nairobi, Kenya, complementing the Hong Kong
administration center.
Frontier Services Group Limited (“FSG”) (SEHK: 00500), a
publicly listed, complete logistics solutions provider in frontier
markets with its headquarters in Nairobi, Kenya, today reported
financial and operating results for its first full year of
operations of the aviation and logistics businesses. The Company
reported HK $310 million in revenue, and gross profit of HK $139
million.
“2014 marked the first full year of operations for Frontier
Services Group, and we have made significant progress positioning
the Company to deliver lasting value to our shareholders, support
to our customers, and benefit to the regions we serve,” said Erik
Prince, Frontier Services Group Chairman.
Highlighting Frontier Services Group’s impressive progress
throughout fiscal year 2014, Prince noted, “We are especially
pleased with the investment we made in Phoenix Aviation, a key
element to our core growth strategy. This transaction is an example
of our commitment to becoming the most capable, most well regarded
specialty aviation and logistics business serving the African
continent, and we will continue to evaluate strategic opportunities
to increase our geographic and customer diversification throughout
Africa.”
Commenting on the growth of human capital in the Company, Prince
said, “Our strategy in 2014 was to invest in the very best people
as well as the businesses and assets that comprise our growing
platform of capabilities, and we have reached meaningful milestones
as we become the ‘Complete Logistics Solutions’ provider for Africa
and beyond.”
Prince added, “With the addition of Admiral Fallon, Professor
Lee, and Dr. Demuren, we have brought world class leaders from
business, academia and logistics from the U.S., China, Hong Kong
and Africa together to guide Frontier Services Group as we build
the business for all of our stakeholders."
The combination of physical assets and proven human capital
position the Company to continue to expand its services across
diversified customer sectors in Africa, like oil and gas, mining
and humanitarian relief.
About Frontier Services Group:
Frontier Services Group Limited (“FSG”) (SEHK: 00500) is a
publicly listed company on the Hong Kong Stock Exchange with its
headquarters in Nairobi, Kenya. FSG provides complete logistics
solutions in frontier markets with a particular focus on Africa.
Serving sectors across oil and gas, mining and humanitarian relief
organizations, FSG is able to support customer’s needs around
moving goods, material and people in to, and out of, some of the
fastest growing, but more difficult operating environments in a
safe, reliable and cost-effective manner.
For Further Information Please Visit:
www.FSGroup.com
Media Inquiries:For Frontier Services Group LimitedConrad
Harrington, + 44 (0) 20 3178 8914charrington@sardverb.com