Clan in major upgrading


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Clan, which has just changed its shareholding with locals taking over a majority stake, says it has embarked on a major upgrading of its fleet and depot infrastructure to refocus on its core business of collection and delivery.

It says this will form the foundation of a more customer -centric approach which it says will be complimented by the formation of strategic alliances with both local and regional companies.

In its report for the year ending December, the company says its revenue increased from $706.2 million to $1.5 billion with operating profit more than doubling from $250.6 million to $514 million. Net profit more than doubled from $88.4 million to $196.6 million.

It says its main business of transport, performed better in the second half with DD Transport producing exceptional results.

The tyre sales and retreading business, Trentyre, continued its good performance and together with Skynet, the courier business, it had a 201 percent after tax profit increase to $154 million.

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The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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