Transport and logistics group Imperial posted double-digit growth in first-half headline profit despite what it said was a competitive landscape. Headline earnings per share rose 16% to R7.17 in the six months to December, the company said on Tuesday, noting that a stronger rand took the shine off some of its underlying business. The rand strengthened by about 10% to the dollar during the period. Nonetheless, it managed to reduce its foreign exchange losses by R37m, to R84m. The company divides itself into Motus‚ which houses the motor vehicle chain; and Imperial Logistics‚ which entails transport‚ warehousing and distribution management. The forex loss at Imperial Logistics narrowed to R39m from R153m, while Motus booked a R39m forex loss compared with a R12m gain in the prior period. Group revenue was up 11% to a record R66.5bn and net profit rose 12% to R1.36bn. Motus, the larger division, grew revenue by 16% and operating profit rose 5%. The group said revenue and profit rose at...

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