IMPERIAL Holdings saw record revenue and operating profit in the year to June, but net profit and headline earnings per share fell 5% and 3%, respectively. Difficult trading conditions in SA put pressure on the logistics division’s revenue and profitability, with soft volumes in manufacturing, commodities, fuel, and chemicals. The share dropped more than 4% in early trade on Tuesday, pulling back to about 2% down. "In total, it was a good performance," CEO Mark Lamberti said. The group generated nearly R119bn in turnover, mainly in Africa and Europe. Imperial was getting rid of complexity, rationalising into two main lines of operational activity — logistics and vehicles — operating under separate management structures. The group is set to increase fast-moving consumer goods and pharmaceutical deliveries into Africa drastically, also changing from a capital-intensive business into one that owned less assets.
To this end, it had bought a 95% interest in Palletways Group in the ...
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