Acquisitions help Super Group post solid results
Super Group's results were boosted by revenues from German, Australian and UK acquisitions
Super Group substantially outperformed the South African economy in the six months to December, despite overall growth in the country falling to its lowest level in seven years. The results were boosted by revenues from German, Australian and UK acquisitions. Turnover rose 15% to R14bn; operating profit soared 17.4% to R1bn, while core headline earnings per share were up 3.2%. Core headline earnings per share excluded acquisition costs and broad-based black economic empowerment costs. CEO Peter Mountford said on Monday that the group made acquisitions in the currencies of countries in which it buys businesses. “Borrowings are far cheaper than in SA,” he says. But the diversified logistics and fleet management company expected the outlook for 2017 to remain restrained on subdued global demand for mineral resources and political issues such as Brexit. It said volatility in sterling potentially affected its UK-based motor interests. It also said the South African economy remained susce...
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