Unifreight buoyant as it registers 58% Q1 volumes growth

Diversified logistics concern Unifreight has announced a remarkable 58% increase in volumes for the first quarter of 2024.

This growth is attributed to the company’s strategic fleet expansion, increased capacities, and aggressive marketing efforts.

Unifreight has placed significant resources into the Full Truck Load (FTL) market segment, which has paid off handsomely. The FTL market segment volumes surged to 41% from 29% in the same period last year.

This strategic shift has been a key factor in the company’s performance, with Unifreight earning over ZWL 13 million in the first quarter alone.A major revenue driver for Unifreight is the transportation of tobacco, a sector receiving substantial government support.

The company has secured more merchants to transport their produce, benefiting from the government’s Tobacco Value Chain Transformation Plan launched in 2021.

This plan aims to increase tobacco output to 300 million kg by 2025, a move that directly benefits logistics companies like Unifreight.Unifreight’s fleet has proven reliable, particularly the FAW28-380FT units, which have outperformed other models such as Shackman and Powerstar in terms of cost efficiency per kilometer.

Despite facing higher fuel and vehicle registration costs, the company has managed to maintain operational efficiency.Looking ahead, the outlook for Unifreight is promising. The company expects to end 2024 with positive yield results, fully meeting its budgetary goals.

Positive Eye News

John Tanyanyiwa

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