Revenue increased 12 per cent to 103.6 billion rand for the year ended 30 June 2014 from 92 billion rand in the previous comparative period.
Operating profit up 2 per cent to 6.2 billion rand from six billion rand in 2013, and profit from operations before depreciation and recoupments increased to 8.3 billion rand from 8.1 billion rand in 2013.
“These results reflect progress with Imperial’s previously espoused intent to decouple the group’s performance from the cyclicality of South African new vehicle sales, by investing in, or developing, less correlated businesses where our experience and expertise enables us to provide value in new markets and geographies,” Imperial Holdings Limited said in a statement.
[DATA IPL:Imperial Holdings Limited] is a logistics and vehicle rental, distribution and retail group founded in Johannesburg, South Africa. It also operates in Europe and Australia.
As a result of the strategy, non-vehicle revenue increased 20 per cent to 45.5 billion rand, which is 44 per cent of group revenue, while foreign revenue increased 26 per cent to 35.1 billion rand, which is 34 per cent of revenue.
Diluted headline earnings per share however decreased 7 per cent to 1,606 cents per share for the period from 1,731 cents in the previous comparative period.
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Profit before tax increased to 4.9 billion rand from five billion rand in 2013.
Revenue for the group’s Logistics Africa division increased to 22 billion rand for the period from 18 billion rand in 2013 despite the subdued or declining volumes in most of the sectors the division served.
Revenue for the Logistics International division had a marginal increase to 1.3 million euros on the back of depressed activity levels in Germany and fragile recovery of the European economy.
Revenue for the Vehicle Import, Distribution and Dealerships division increased to 27.1 billion rand from 25.6 billion rand in 2013.
The division is primarily an exclusive importer of 18 automotive and industrial vehicle brands including Hyundai, Kia and Renault, and a distributor through 126 owned and 113 franchised dealerships.
Revenue for the Vehicle Retail, Rental and Aftermarket Parts division increased to 33.9 billion rand for the period from 31.8 billion rand in 2013. In South Africa.
In South Africa, the division sold 31,816 new vehicles from 33,084 in 2013, and 30,759 used vehicles from 29,547 in 2013 during the year.
Total revenue for the financial services division however decreased to 4.1 billion rand from 4.2 billion rand in 2013.
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“Imperial’s progress and performance in the current year will rely on three factors: the competitive dynamics of the markets in which we operate; our relative competitive position in those markets; and the manner in which we deploy our resources, capabilities and capital,” said Imperial.
“Although these factors differ for each of our divisions we expect our strategic positioning and operating practices to result in a continued growth of revenue, earnings and value in the medium term.”