eBusiness Weekly
Tawanda Musarurwa
HARARE – Transport and logistics group, Unifreight Africa Limited’s turnover for the six months to June 30, 2018 reached $13,08 million, up 20 percent from the prior comparable period figure of $10,9 million.
The group said profit from continuing operations was static at $528 000 compared to prior year profit of $565 000, with costs being higher than expected due to foreign currency shortages and substantial non-recurring expenditure incurred to refurbish trailers and maintain operations.
“The encouraging turnover was generated from nurturing the existing clients leading to organic growth as well as pursuit of new business. On the other hand, improved yields were achieved as a result of the gains from balancing the product mix of “Full Truck Loads” and “Less than Truck Loads,” said chairman Patrick Chingoka in a statement accompanying the results.
The transport and logistics firm’s management said improved efficiencies in workshops, which is aligned with operations as well as deliberate fleet renewal resulted in increased fleet availability and better capacity utilisation to meet the improved demand.
“During the six months period, ten new Scania G460 trucks were procured to run inter-city operations as well as ten eight-ton UD trucks and five Hyundai H-100 trucks for local collection and delivery services.
“This has resulted in better service to customers and competitive advantage. The board is committed to and has directed implementation of a systematic but sustained fleet renewal program,’ said the chairman.
Going forward, the board is looking to “accelerate the pace of business development and increase investment.”
The board did not declare an interim dividend for the period under review.
