Chelsea Logistics and Infrastructure Holdings Corp. (Chelsea Logistics), the shipping and logistics arm of the Udenna Group, delivered a year-on-year revenue growth of 15 percent for the first nine months of 2023, posting P5.3 billion in revenues as compared to P4.6 billion in 2022.
Its passage business contributed the highest revenue of P1.4 billion, which is a 61 percent growth from 2022’s P887 million, accounting for 27 percent of the total consolidated revenues.
This was the result of the new school season, and the thriving travel and tourism post-pandemic together with the group’s continued efforts on its route expansion program and digitalization.
Similarly, revenues from the freight segment grew by nine percent from P2.4 billion in 2022 to P2.7 billion during the same period in 2023.
The growth in the freight business is attributable to the increased volume of cargo.