Imperial Logistics, one of SA’s biggest transport services companies, said on Monday that it intended to write down the value of its consumer packaged goods unit in SA by as much as R1.4bn as the poor state of the economy takes its toll on the unprofitable business.

The news caused its share price to slump 5.12% to R57.10, its biggest one day loss in more than six months.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.