Super Group’s profit sags under weight of local and global problems
High interest rates and inflation, recession in Germany and SA’s own goals all take a toll
27 February 2024 - 11:01
UPDATED 27 February 2024 - 19:20
A combination of high interest rates, rising costs, slow turnaround at SA ports, border congestion and sharp drops in its German and UK supply chain businesses hindered transport and logistics group Super Group’s interim performance.
Super Group reported on Tuesday that headline earnings per share (HEPS) fell 16% to R2.01 year on year, after supply chain businesses in Africa and Europe underperformed, along with vehicle dealerships in SA and the UK. However, the Australian market, represented by SG Fleet, fared well, with its net profit up 30% to R735m...
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