UTI REPORTS YEAR-END EARNINGS UP 25%
UTi, formerly known as Union-Transport, reported a 25-percent increase in earnings for the fiscal year ended March 31.
The supply chain services company reported earnings of $20.5 million, compared to $16.4 million for the previous fiscal year. Revenue rose 24 percent to $707.0 million from $571.1 million.
During the past year, UTi has established a strategic alliance with I2 Technologies, the e-business and supply chain management services company; made 12 acquisitions in nine countries and expanded its global network to include 175 company-owned offices in 41 countries.
The company also reported strong results from its core businesses in non-asset air and ocean transportation and forwarding, customs clearances and distribution value-added services, such as warehousing.
“Through acquisitions and internal growth, UTi has improved margins while addressing changes and capitalizing on an increasingly demanding and sophisticated global supply chain marketplace,” said Tiger Wessels, UTi's chairman.