The logistics giant said the investment would continue despite the challenges posed by the Covid-19 pandemic locally and regionally.
The company's main activities include inter-city freight consolidations, distribution of general goods and a courier service.
Unifreight's investment drive comes at a time executives in the sector believe transport and logistics operators should adopt the latest technology to overcome challenges and dynamics brought about by the pandemic.
Market analysts also believe technology can help industry players to cash in on the Africa Continental Free
Group chairman Peter Annesly said the investments into new vehicles would enhance customer service and experience while consolidating market share.
This also comes as the group has been looking at expanding its revenue streams with management upbeat of a strong performance for the full financial year 2021, which ended in December.
"Notwithstanding the uncertainty in the economy and the difficult trading environment, the group is continuing to invest in new vehicles to improve service to our valued customers.
"We are very grateful that our robust, yet flexible model and diverse customer base has kept us going through very difficult times, without forgetting what a great team we have, who have really dug deep and gone the extra mile.
"We are rigorously pursuing new revenue streams, whilst maintaining and strictly monitoring costs and are confident that we will end 2021 with a favourable set of results," he said.
According to the group, cumulative second quarter sales were ahead of budget by 14 percent and bettered prior year performance by 70 percent.
"What is a bit disappointing is that despite a dramatic increase in sales, US dollar inflation has been rampant and as a result, reduced margins -- but we can be grateful that we are still profitable and profit margins are above industry norms," said
For the half year period, revenue rose 50 percent to
Total Swift volume went up 63 percent above prior year, with a 56 percent growth in Less Than Truckload (LTL,) and 3 percent up on budget. The group retreated to a loss position of
"Our cumulative net profit as a percentage of revenue is sitting at 10,4 percent which is above industry average, but unfortunately below expectations," he said.
The transport and logistics entity has also felt the adverse impacts of the Covid-19 pandemic and its persistence continues to impact global supply chains.
In a report on "Six key trends impacting global supply chains in 2022,"
The period post the pandemic has also been riddled with uncertainties and labour market shortages have further complicated recovery for many industries.
Additionally, technology should be effectively utilised to help reduce operating costs, provide visibility, and diversify the way customer needs are met.
"Fleet management and supply chain networks should be responsive to increasing customer requirements (and) collaboration and supplier partnerships, and ongoing risk monitoring are all needed to de-risk the supply chain," said
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