Logistics firm 2GO Inc. said it has restated its audited financial statements in 2015 and 2016 to ensure fair presentation and establish accountabilities. 2GO said in a disclosure to the stock exchange the restatement was supported by the new management of the company. 2GO based on the restated 2016 and 2015 financial statements of the company posted profits of P344 million and P109.1 million, respectively. SM Investments Corp. in March completed the acquisition of a minority stake in 2GO Group through a 34.5 percent stake in the parent company. 2GO is the country’s largest integrated supply chain operator whose businesses include shipping, freight forwarding, warehousing and express delivery services.

Source: The Standard July 09, 2017 11:37 UTC