Imperial earnings up 14% to 1‚566c

The group said the strong financial performance was due to its performance in the new vehicle market in SA and its logistics division‚ especially in Europe.

"The group achieved outstanding full year results with strong revenue and profit growth across the businesses. It was an excellent year of trading for logistics in Germany while logistics in SA performed satisfactorily despite tough trading conditions which were offset by acquisitions‚ significant contract gains and renewals‚" said CEO Hubert Brody in a statement.

Imperial also increased its revenue for the period under review by 25% to R80.83 billion‚ with its operating profit also increasing 25% to R5.638 billion.

The logistics division increased its revenue by 34%‚ with new vehicle unit sales in SA growing by 19%.

"We outperformed a strong new vehicle market with a good product supply and excellent positioning of our key brands. The growth in the car parc of our brands enables us to earn increasing annuity income streams from parts‚ service and financial services activities‚" he said.

"Our strategy to add parts‚ components and industrial equipment businesses offers resilience as they continue making a significant contribution to group revenue. The group remains focused on generating strong returns on capital and achieved ROE of 23% on a strong balance sheet‚" Brody said.

It declared a final dividend of 380 cents per share‚ a 46% jump from the previous year.

Imperial said it expects trading conditions in the Southern African logistics division to remain challenging. However it said the industry growth will exceed that of GDP.

"The strong growth experienced in the international logistics division over the past three years has created a substantial base for further growth. Despite the economic crisis in Europe‚ Imperial is positive about the medium term prospects of its international logistics business‚" the group said.