'Steady growth' for logistics systems company

Despite global and national economic challenges, supply chain systems company, CompuClearing Outsourcing, has seen “steady growth” in revenue and operating profit as well as strong cash-f low for the first half of the 2013/2014 financial year ending December 31, 2014. “We don’t f ly very high and we don’t come crashing down but we’ve seen sustainable and steady progress since we launched the business 30 years ago,” said CompuClearing chairman Arnold Garber, speaking at the announcement of the company’s interim results in Johannesburg last week. Underscoring the company’s market dominance, Garber said around 60% of the total number of import and export customs entries in South Africa were produced using the CompuClearing system. Highlights over the past six months have been “phenomenal growth” for CargoWise One from WiseTech Global (formerly Cargowise), through conversions and new clients, according to financial director, Jonathan Davis. CompuClearing’s new f lagship product, Compusolutions Diamond, has continued the company’s upward trend in software trade volumes, he said. “The development costs of Diamond have been capitalised to match revenue f lows.” Garber said there was a “positive outlook” for the second half of the financial year, especially as past performance has consistently shown improvement during the second half of the year. “We also anticipate increased growth from over-border transits,” he commented. Focus areas for the second half of the year will be a continued roll-out of the two products – CargoWise One and Diamond – to new and existing clients. “We are also intensifying our marketing efforts,” Garber said. INSERT Around 60% of the total number of customs entries in South Africa use CompuClearing. – Arnold Garber CAPTION CompuClearing FD, Jonathan Davis, presents the company’s financial results.