Imperial falls as profits decline

Comment on this story

Johannesburg - Shares of Imperial Holdings fall more than 2 percent after the South African transport firm posts a 7 percent decline in full-year profit, hit by the weaker rand currency that it expects would lead to lower first-half earnings.

Imperial, a major importer of nearly 20 passenger and industrial vehicle brands including Kia and Mitsubishi, is down 2.3 percent at 190.63 rand.

The company is also seeing more and more of its trucks standing idle as manufacturers such as Tiger Brands produce less to match slowing consumer demand at retailers such as Shoprite, which last week posted its slowest profit growth in 15 years. - Reuters

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines