Growth in vehicle sales drives Super results
Super Group bucks vehicle sales trend with a 6.8% jump at its dealerships
SUPER Group, which dubs itself a "transport logistics and mobility group", bucked the trend in South African vehicle sales, reporting a "solid set of results" for the year to the end of June. CEO Peter Mountford said on Monday that South African market conditions were expected to remain challenging and competitive. But that did not stop new vehicle sales by its dealerships from jumping 6.8%, as National Association of Automobile Manufacturers of SA data fell 5.6%. "It’s a substantial outperformance in relation to the market," Mountford said. He said there had been an emphasis on service excellence at the company’s dealership operations. Super Group had substantially increased its international footprint in the past two years. This had boosted revenue and profit. Group revenue shot up 31% to R26bn. Headline earnings per share jumped 10.4%, as net asset value per share increased 30.7% for the period. "At year-end, the non-South African businesses contributed 42% and 60% to revenue and...
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