Imperial Logistics reports 9% increase in profits
Logistics - The South African company, Imperial Logistics has reported an increase in operating profits of ZAR 2.8 billion (the equivalent of EUR* 191 million) for the year 2016-17.
Sept 1, 2017: The South African company, Imperial Logistics has reported an increase in operating profits of ZAR 2.8 billion (the equivalent of EUR* 191 million) for the year 2016-17. The company consisting of the three sub-divisions of South Africa, African Regions and International, surged 9 percent for the 2016- 17 financial year ended on June 30, 2017.
Turnover rose by 6 percent to ZAR 50.7 billion (EUR 3.46 billion) in comparison with the previous year. Imperial Logistics International, which includes all the Imperial logistics activities outside Africa, increased its turnover by 26 percent to EUR 1,638 billion and its earnings before interest and taxes (EBIT) by 19 percent to EUR 75.4 million with an operating margin of 4.6 percent.
“The significant increase in turnover and profits at Imperial Logistics International is due to positive developments at the express freight service company Palletways, which was taken over in the middle of 2016, and positive organic growth through new projects in our traditional business,” said CEO Carsten Taucke. He quoted the expansion of business at Imperial Shipping Paraguay and new business in the automotive industry like the projects for Audi AG in Ingolstadt, the BMW Group in Wallersdorf and Volkswagen and Audi in Poland and Hungary as examples.