Logistics company Super Group announces record results for H1
Group CEO Peter Mountford has called it a "stellar performance despite challenging circumstances".
Leading transport logistics and mobility group Super Group has released its results for the year ending 30 June 2018 – and they are pleasing indeed. The record results have primarily been attributed to the excellent performance of the commodities businesses within Supply Chain Africa, good contributions from the acquired businesses, and solid results from SG Fleet. Peter Mountford, Group CEO, has called it a stellar performance despite challenging circumstances.
Mountford says the Group has mixed views on the economic conditions and prospects for its businesses, across its geographical regions, for the coming financial year. He said:
“Locally, despite new political leadership, policy uncertainty remains extremely negative and there is still no indication of economic stimulus or encouragement of investments. South African consumers are under even more pressure and therefore we expect the low growth rates to persist.”
- Revenue up 19 percent to R35.7 billion
- Operating profit up 15 percent to R2.4 billion
- Headline earnings increased by 19 percent to R1.2 billion
- HEPS up 15 percent to 332 cents
- Operating cash flow increased by 21 percent to R3.8 billion
- NAV per share up 13 percent to R27.05
Mountford added that the Group's strategy of being an innovative, integrated mobility solutions company remains integral to growing and expanding its core businesses, with the Group exploring viable acquisition opportunities, both locally and abroad. “We should perform reasonably well in the next year, mainly on the back of a strong African commodities performance and new business in the South African consumer-facing operations,” he said.