Wed, 21 Apr 2021

  • Imperial logistics as been in business for more than 70 years, since its inception as a Chrysler dealership in Johannesburg.
  • The company has begun disposing of its international businesses to focus on the African Market.

  • Imperial's most recent international sale was that of its European shipping business in July 2020, for R3.4 billion, it is also working towards disposing of its South American shipping operations.

But that picture is about to change and the company has begun disposing of its international businesses, with its most recent sale being that of its European shipping business in July 2020, for R3.4 billion. It is also working towards disposing of its South American shipping operations.

Akoojee has been at the helm of Imperial since February 2019, after joining the group in 2009, and the group has been working on its restructure over the past 18 months. Imperial released interim results on Tuesday for the six months ended 31 December 2020. Its revenue increased by 15% to R26.36 billion, while its earnings declined by 2% to R2.55 billion. He told shareholders that that the group would become a one-stop shop on the continent and would leverage its network to cross-sell its services, particularly in the consumer and healthcare industries.

He explained that the logistics giant was building on its growth in Africa and would continue to expand in its main industries, but would also look to grow in commodities and agriculture. The group is also focusing on e-commerce and announced that it had acquired South African e-commerce, warehousing and distribution company Parcelninja this month. The company was started by Justin Drennan, Ryan Drennan and Terence Murphy in 2013.

Akoojee explained that it made more sense to acquire the business together with its people and skills as well as its platform and client base because building a similar business would take too long for Imperial.

"They keep changing the strategy, first it was 'international is the right way to go', and then they go and buy Palletways [freight business]," he said.

Source: News24

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