Super Group sights on local acquisitions
Company fails to declare dividend as CEO says deal opportunities in country indicate an unsettled market
Transport logistics and mobility company Super Group is eyeing a number of acquisitions in SA, CEO Peter Mountford said on Monday. Speaking after the release of the company’s results for the year to June, Mountford said he is surprised at the acquisition opportunities that have become available in SA. "This is an indication of a market that is unsettled," he said. Mountford said that after a quiet financial year on the acquisition front the company is "definitely" considering acquisitions in the new financial year. The potential acquisitions could provide a much-needed boost to the company’s SA businesses. Super Group’s consumer-facing operations in SA took strain from the difficulties consumers faced. These included the increase in VAT, fuel price increases and high unemployment levels. Super Group’s past acquisitions, which saw the company spread outside SA, shielded its exposure to local difficulties in the past financial year as the mining commodity industry in the rest of Afric...
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