Barloworld sees signs of recovery as lockdowns ease
The group says it is experiencing growth in transport volumes as restrictions on activity abate
Logistics and fleet management group Barloworld says activity across its operations is picking up as Covid-19 lockdowns ease, with the pandemic previously resulting in only about half of its transport fleet being operational.
The group’s freight forwarding operations were hardest hit with average volumes reduced to nearly 35%, it said, but transport volumes have since increased to more than 80%.
During the lockdown 60% of warehouse personnel were active, supporting the food and health sectors, but this has increased to about 70%, the group said.
In afternoon trade on Thursday Barloworld’s share price was little changed at R66.95, having lost 40.6% so far in 2020.