Imperial turns the page
Imperial has published its results for the half-year ending 31 December 2020. While revenues increased by 15% to ZAR 26.4 billion (USD 1.76 billion) compared to same period a year before, ebitda went down by 2% to ZAR 2.5 billion (USD 170 million) and operating profit by 18% to ZAR 1.2 billion (USD 80 million).
These figures exclude the discontinued European shipping business in the current and prior period. The group also recently decided to focus on domestic business.
“We have concluded that Logistics International is non-core to our ‘Gateway to Africa’ strategy and we will explore an appropriate exit plan for this business,” CEO Mohammed Akoojee said.
Furthermore, the company has also acquired 60% of the e-commerce logistics business, Parcel Ninja, effective from 1 February 2021.
Parcel Ninja, launched in 2014, offers an outsourced warehousing and fulfilment business to South African online shops, currently picking and packing over 18,000 items for around 3,000 orders per day. Its 6,100 sqm warehouse in Johannesburg hosts upwards of half a million items on behalf of online shops across South Africa. (cd)