Super Group warns of 75% fall in operating profit
The logistics group says the Covid-19 pandemic will result in structural changes to the economy and future business
25 August 2020 - 16:31
Transport and logistics company Super Group says it expects operating profit to have declined as much as 75% in the year to end-June, largely due to the performance of its dealership division and fleet business.
The company, which has 48 dealerships in SA and 32 in the UK, said operating profit could fall by between 70% to 75% during the period, from R2.6bn in the previous year. Operating profit was also dragged lower by the performance of its European supply chain business as well as impairments and bad-debt provisions...
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