UTi, a global supply chain solutions provider 30% owned by JSE-listed United Service Technologies (Uniserv) achieved a 39% increase in net income for the third quarter to end-October.
UTi is a Nasdaq-listed group that aims to optimise the operation of customers` global supply chains through the use of its global network, proprietary IT systems, relationships with transportation providers and expertise in outsourced logistics services.
The group is Uniserv`s only investment.
UTi`s CEO, Roger MacFarlane, says this is the seventh consecutive quarter that the the group has recorded year-on-year revenue and income increases.
Total gross revenues for the quarter rose by 24% to $398.73 million while total net revenues increased by 46% to $156.55 million. Net income of $13.18 million compared with $9.47 million for the same period a year earlier.
This translated into basic earnings of $0.43 per ordinary share, a 16% increase from the $0.37 per share a year before.
UTi announced last week that it had bought South African pharmaceutical logistics provider International Healthcare Distributors for $40 million.
Related stories:
UTi buys SA firm for $40m
Share
