SANTOVA, a logistics provider with offices in SA, Hong Kong, Australia, the UK and the Netherlands, saw higher earnings growth in the year to February despite tough economic conditions.It said on Thursday that developed economies were trying to gain momentum lost during the global financial crisis and that emerging economies were not as buoyant as they had been.But the group said it managed to produce consistent growth through diversification of its operating regions, currencies and industries. Group consolidated revenue was up 10.6% in the year as net income shot up 27.4%. Headline earnings per share rose 25.2% in the period.Logistics operations in SA remained strong, despite a soft economy, the group said. The domestic logistics industry had contracted in many areas, but Santova had grown revenues 5.3% to R136m in the year."What is more important … is that despite the continued pressure from underpricing by competitors, reduced trade volumes and a weakening rand, we have managed t...
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