Transport group under pressure but grows revenue in year to end-June
Transport group Imperial Logistics has held onto its final dividend payment after Covid-19 hit volumes across its businesses.
The group reported a loss of R303m for its year to end-June, from profit of R3.4bn previously, but said the benefits of its restructuring exercises should manifest in the coming year. Group revenue from continuing operations grew 5% to R46.38bn, with Imperial saying it had won new contracts during the period.
The group has opted not to declare a final dividend, bringing its total dividend for 2020 to 167c a share, from 244c previously. “Despite challenging trading conditions — worsened by the Covid-19 pandemic — Imperial increased revenue from continuing operations, generated strong free cash flow, maintained a strong balance sheet, effectively managed costs and recorded significant progress against its strategy,” said CEO Mohammed Akoojee.
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