logistics
Imperial looking to expand an empire
Imperial is selling off businesses and assets, paying off debt and stepping up efforts elsewhere in Africa and in Europe
Logistics and vehicle group Imperial Holdings is driving hard towards doubling profit from its rest-of-Africa operations. It is seeking to rely less on a shaky SA trading environment, where 59% of group revenue and 64% of operating profit were generated in the interim period to December 2016. To this end, it has been selling noncore businesses and assets that are not likely to be competitive in future, including properties, garnering billions of rand to help pay down debt. Imperial has just announced the sale of 100% of the ordinary shares and also the tier-2 capital of insurer Regent Group for about R1.8bn to Hollard. The transaction date will be approved by the Financial Services Board. Most recently, falling commodity demand, low oil prices, currency volatility and dwindling consumption have hampered Imperial’s African businesses. The rest-of-Africa region generated 9% of turnover and 16% of operating profit in the latest six-month period. But the group has bet a big part of its ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.