Eastern Air Logistics (SHA:601156), the logistics arm of China Eastern Airlines (SHA:600115, HKG:0670), expects a net profit attributable to parent of between 2.50 billion yuan and 2.90 billion yuan in 2024, rising up to 17% from the year-ago profit of 2.49 billion yuan, according to a Shanghai Stock Exchange disclosure on Saturday.

Earnings per share a year earlier was 1.57 yuan.

The logistics company attributed the forecast to the growth in international air logistics and the rise in freight rates, the disclosure said.

The company's shares dropped less than 4% in recent trade.