News Column

Weak rand hits Imperial profit

August 28, 2014

Logistics group Imperial reported a 7 percent drop in full-year profit yesterday, as the |weakening rand weighed on its |car importing unit.

Shares of Imperial fell more than 3 percent in early trade after the company flagged further pain in the near future.

"The short-term outlook is daunting," the company said, adding that it expected a decline in earnings for the first half of 2015 from the currency impact.

Cape Argus

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Source: Cape Argus (South Africa)

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