Barloworld to merge automotive and logistics business as deals dry up

📆 18/11/2019 11:08:00
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Non-renewals of contracts and the disposal of its multi-temperature foods storage and distribution business KLL weighed on its results to end-September

One of the Hino trucks operated by Barloworld Logistics under the RTMS system. Picture: MOTOR NEWS

Revenue and operating profit were hit in its year to end-September due to the closure of its logistics business KLL, with the company also experiencing lower trading activity, and non-renewal of contracts in late 2018.The company declared a total dividend of 462c, unchanged from the prior period. Barloworld disposed of KLL during the period, having acquired it in 2016. KLL had mainly served top-end retailers.

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