2GO Group Inc. (2GO), the country's leading transportation and logistics firm, significantly improved its financial performance in the first quarter, trimming net losses by 88 percent to P35 million from P292 million in the same period last year.

With the country's economic reopening underway, shipping revenues rose 53 percent, as both sea freight and travel gained traction. Logistics and other services revenue grew 14 percent, boosted by the growth in cold chain reefers, e-commerce fulfillment and international courier services. In aggregate, 2GO delivered P3.9 billion in revenues for the first three months of 2022.