Imperial Logistics expects better year ahead after profits fall
Asset write-downs and restructuring cut the group’s after-tax profit to R90m from R1.2bn previously
27 August 2019 - 08:53
Imperial Logistics, which focuses mainly on Africa and Europe, says earnings should improve in the year to June 2020 after asset write-downs and restructuring costs caused an earnings slump in financial year 2019.
The group, which unbundled automotive division Motus on to the JSE in late 2018, said on Tuesday that profit after tax from continuing operations in the year to end-June fell to R90m, from R1.2bn previously. This was largely because of impairments of assets, which offset a 2% increase in revenue from continuing operations...
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