COMING BACK into the Top 30 with a big bang in 2003, after having had no figures included in the 2002 statistics, UTi (trading as Pyramid Freight in the IATA list) recorded a turnover of R140.8-million and grabbed 3rd spot in the league. The highlight of the year, according to airfreight export manager, Rob Stead, was that the company achieved exceptional growth in both volumes and revenue during the year. “It was also a year of restructuring,” he said, “so we were very happy to achieve this growth while consolidating the structure of our airfreight export department.” Stead also saw the export incentives contained in the Motor Industry Development Programme (MIDP) and the US Africa Growth and Opportunity Act (Agoa) having beneficial effects on the export of textiles and automotive products. Added to this, UTi noted that mining industry exports – being largely based on US dollar pricing – were also less affected by the currency exchange factor than a range of other products. Although not a big mover of perishables, the company also benefited from one major client giving it good volumes of this export category. But the excitement of the moment is exports into Africa. “It’s a challenge in dealing with Africa,” said Stead. “But those who take this on can see major benefits. “Indeed, the largest percentage of our UTi airfreight exports is now into Africa.”
‘Exceptional’ growth in volumes and revenue
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