Yojee Ltd shares jump 11% on market update

The Yojee Ltd (ASX: YOJ) share price is on course to finish the week with a strong gain.

In late morning trade the technology company’s shares are up 11% to 29.5 cents.

What happened?

This morning Yojee announced significant growth and strong performance results from its Singapore last mile logistics network.

According to the release, last mile deliveries on Yojee’s Singapore network have grown 150% over the last month, to achieve an almost 700% increase over the last six months.

Pleasingly, despite the rapid increase in deliveries the company’s performance standards have been maintained to a market-leading standard.

The strong growth in deliveries was driven from both local and international sources, and was a mix of business-to-consumer e-commerce, business-to-business, and consumer-to-consumer deliveries.

Management believes this demonstrates the broad appeal of the Yojee platform.

Should you invest?

While my preference in the last mile logistics industry remains GetSwift Ltd (ASX: GSW), I do think that Yojee is worth keeping a close eye on in the future.

Both companies have made huge strides this year and look well-positioned to start generating meaningful revenues in 2018. Time will tell whether these revenues go on to justify their current market valuations.

If you like exciting tech shares like Yojee and GetSwift then don't miss out on these shares in 2018.

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Motley Fool contributor James Mickleboro owns shares of GetSwift Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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