Unifreight Africa Limited acquired 40 trucks and trailers in the six months to June 2026 as the transport group expanded its fleet, increased revenue and improved cash generation.
The company’s interim financial results show that revenue rose 8.9 percent to ZWG434.2 million, up from ZWG398.9 million in the same period last year.
Profit before tax increased 40.8 percent to ZWG53.2 million, while earnings before interest, taxes, depreciation and amortisation rose 25.7 percent to ZWG92.8 million.
However, net profit fell to ZWG38.7 million from ZWG148 million recorded in the prior comparative period.
Management attributed the difference largely to a ZWG110.2 million deferred tax credit included in the previous period’s results. The company incurred a normal tax charge of ZWG14.4 million in the six months to June this year.
The fleet expansion formed a major part of the group’s investment programme, with ZWG75.1 million spent on purchasing vehicles and equipment.
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The company said the newer fleet was expected to reduce maintenance costs, improve fuel efficiency and increase vehicle availability, helping it respond to demand as regional trade flows recover.
Unifreight also improved its cash generation, with net cash from operating activities rising to ZWG101.5 million from ZWG9.8 million in the corresponding period last year.
The improvement was largely attributed to efforts to recover money owed by customers. Trade and other receivables fell 37.7 percent to ZWG141.2 million.
However, the expansion came with higher borrowing. Interest-bearing debt increased 34.3 percent to ZWG236.3 million, while the group’s gearing ratio rose from 31.4 percent to 38.3 percent.
Total assets grew 9.7 percent to ZWG1.13 billion at the end of June.
The board did not declare an interim dividend, opting to retain capital for ongoing fleet investment.
Management said the group entered the second half of the year with a larger fleet, improved margins and a stronger debtors’ position, although challenging economic conditions and currency risks remained concerns.
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