Passenger and logistic company Pioneer Corporation Africa has revealed dramatic growth at its annual general meeting.
Chief Executive at Pioneer Corporation Africa, Albert Ushe told the company that growth was being driven by operational efficiencies emanating from the acquisition of new assets, aggressive cost reduction measures and tailor-made marketing programmes.
He revealed that the group’s revenue for five months to May was up seven percent to $11.4 million compared to the same period last year. Profit before tax was up by 19 percent and the firm has just secured 10 contracts with South African firms to move cargo into Zimbabwe and Zambia, expanding its footprint across the region.
Ushe told the AGM that the group would continue to invest in new assets to carry on providing efficient service delivery to customers. So far this year four new buses and 11 new trucks have been purchased.
“We are finalising plans to buy twenty more buses for the local and contracts markets and twenty additional trucks for cross-border this year. This will ensure adequate critical mass for the business going forward,” he said.
The group’s strategy according Ushe, was to keep on injecting new assets gradually to grow capacity while replacing old equipment. The group has also commissioned a new IT system, Freightware, for tracing and tracking of cargo and Fleet-Pro, for efficient fleet management. It said investment in information technology was a priority area in order to offer efficient service delivery.