Published: 29 September 2017

Transport logistics group, Unifreight is targeting increased investment into vehicles to improve services as it seeks to maintain profitability achieved in the half year to June 2017.

This is expected to help the firm achieve its target for a strong set of financial results for the full year.

"The group is continuing to invest in new vehicles to improve the service to its valued customers. It is also rigorously pursuing new revenue streams, whilst maintaining and monitoring costs," said chairman Mr Patrick Chingoka in a statement accompanying results.

The company reported a profit from continuing operations of $565 000 during the half year to a loss from continuing operations of $71 000 same period in 2016, representing a $636 000 improvement.

Mr Chingoka said this was mainly due to reduction in overheads of overheads of $1,3 million from the previous year attributable to the continuing restructuring and cost reduction exercise which commenced in 2015.

However, total revenue reduced to $10, 9 million from prior year's $12,1 million.

Earnings Before Interest Tax Depreciation and Amortisation (EBITDA) for the period was $2,035 million, representing an increase of $128,000 compared to what was achieved in 2016.

The board did not declare a dividend for the period.
- bh24

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