HALF-YEAR RESULTS
Super Group records strong growth
Transport logistics and mobility company Super Group has reported strong half-year growth, saying its performance was largely-driven by its African commodity focused businesses. These businesses offset the difficulty it is facing in its UK operations, which have to cope with Brexit uncertainty and an increase in VAT, higher fuel price increases and general economic malaise affecting its SA businesses which transport commodities like coal. The group’s Supply Chain Africa division, which houses its commodity-focused businesses, saw revenue rise 27.2% to R5.92bn and operating profit surge 78.9% to R468.65m for the six months to December. The group’s total revenue was up 8% to R19.4bn and total operating profit grew to R1.3bn for the period.
Super Group said it expected the commodity cycle in Africa to continue to support this division, which it said would also be bolstered by the acquisition of Cargo Works for R49.5m. The acquisition followed that of Ader for R173.8m, SMC for R41...
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