Sundaymail Editor
THE acquisition of Unifreight Limited by logistics firm Pioneer Corporation Africa (PCA) has begun to add tailwinds to the business as revenues recorded in the six-month period to June 30 2014 spiked 78,5 percent to US$9,7 million from the same period a year earlier.
Unifreight’s results have begun to be consolidated in the group’s results.
PCA’s operating loss resultantly narrowed to US$510 000 from US$1,5 million in the corresponding period a year ago.
Similarly, the group’s loss for the year slimmed to US$835 000 from US$1,04 in the first six months of 2013.
But Pioneer Transport continues to be affected by an illiquid environment, border delays and depressed interest rates.
The business is optimistic that the second half of the year, which is traditionally strong, will help lift the group’s performance.
Subject to regulatory processes and approvals, Pioneer Corporation Africa will be rebranded to Unifreight Africa Limited.
Online Reporter