Disappointing financial year for Imperial Logistics
Imperial Logistics, which is headquartered in South Africa, has taken a critical look at its own operative performance at the end of its latest financial year (July 2018 - June 2019). In spite of a 6% rise in revenue to ZAR 49.7 billion (USD 3.25 billion), the operating profit decreased by 9% or ZAR 2.5 billion (USD 160 million).
Logistics International, which maintains its 49% share of all of the group’s activities, contributed 31% to the overall result, a significant drop compared to the 39% in the previous year. Revenue in euros remained the same compared to the previous year, while the operating profit declined by 32%.
The shipping business, on the other hand, showed a positive trend over the financial year, since freight rates rose despite of low water levels. The general cargo network Palletways continues to make a positive contribution. (cd)