Imperial keeps its focus on Africa as Covid-19 hits volumes
The group secured R6bn in new business in its year to end-June, with losses towards the end of the year due to a much weaker exchange rate
25 August 2020 - 07:47
UPDATED 25 August 2020 - 13:31
Imperial Logistics, whose trucks haul everything from fuel to tobacco, is sticking to its focus on Africa and considering acquisitions, despite Covid-19 pushing up debt and hitting volumes.
Covid-19 cost the group about R4bn in revenue and R1bn in operating profit in the group’s year to end-June, with CEO Mohammed Akoojee saying the group’s business in Europe, which generates 45% of group revenue, was the most affected.
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