Imperilog, formerly Boumat, is forecasting turnover of R196 million and an operating profit of R4.8 million for the year to June 2000.
The company announced last year that it would transform itself from a building supplies wholesaler into a logistics group, and would transfer its listing on the JSE.
The restructuring process included the sale and closure of a number of operations, a reduction in the share premium and the acquisition of Imperihold in exchange for about 74.6 million Boumat shares.
Imperihold, which began operating in February 1996, is a logistics support partner to large companies in the IT, electronics and high-value consumer goods industries, providing the full spectrum of supply chain activities.
As a result of the change of focus, Imperilog, headed by MD Deon de Kock, now provides a broad range of logistics services, including transportation, warehouse management and distribution management, operating in a niche market primarily in the IT, electronics and high-value consumer goods industries.
The company says in its abridged pre-listing statement that a dominant proportion of its earnings are contracted and are consequently of an annuity nature. Its operations also experience strong cash flow, as they are not capital intensive and have a positive capital working cycle.
It adds that its individual businesses have a record of strong organic growth in revenue, derived from a diverse spread of blue chip clients, of which Siltek and its subsidiaries are the most significant.
Siltek MD Rob Matthews has been appointed to the Imperilog board as a non-executive director.
Among other investments, Imperilog holds a large stake in JSE-listed Distribution & Warehousing Network (Dawn), which is involved in, among other things, the distribution of aluminium systems, plumbware and sanitaryware.
"The investment in Dawn is considered to be of a long-term nature in view of the business` good prospects," Imperilog says.
However, owing to the large investment in Dawn, Imperilog cannot yet transfer its listing from the retail sector to the services sector.
"The directors intend to apply for a transfer of the company`s listing to the services sector of the JSE lists as soon as the operating income from its logistics operations exceeds the attributable income from its investment in Dawn."
The Imperilog share was untraded at 100c by late on Monday morning.
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