Santova cashes in amid surging shipping rates
The ICT group was among the logistics-focused companies that benefited amid Covid-19
18 May 2021 - 13:54
Small-cap logistics company Santova, an ICT group that provides services aimed at improving companies’ supply chains, says it has benefited from pandemic-induced chaos as companies outsource their logistics requirements to curb surging costs.
The group, which is valued at R441m on the JSE and operates in Africa, Europe and Asia, saw cash generated by operations rise almost a third to R176m in its year to end-February, saying it had attracted some quality new clients and improved margins even as global volumes fell...
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