Super Group earnings up on acquisitions, new business
Supply chain manager Super Group on Tuesday posted higher year-end earnings as acquisitions boosted the new business generated across the JSE-listed group’s three divisions.
Despite the “difficult economic and trading environment” in the year ended June, Super Group delivered 27.6% and 18.6% higher earnings and headlines earnings a share (Heps) respectively.
Earnings a share increased from 172.4c during the prior year, to 220c, while Heps jumped to 212.7c, from 179.4c recorded in 2012.
Group revenue increased by 14.8% to R11.7-billion during 2013, compared with R10.2-billion in 2012, in part owing to new business generation and real growth in sales within the group's existing businesses, barring FleetAfrica.
Super Group reported a profit for the year of R816-million, up from the R594-million delivered in 2012, despite intensified competition in the South African supply chain business and protracted strike action and labour unrest in the transport and logistics industry.
The group recorded a 22% higher year-end operating profit of R1.1-billion, while “stringent focus” on operational efficiencies and cost controls helped the group improve its operating margin from 9.1% in 2012, to 9.7% during the year under review.
During the 2013 financial year, Super Group acquired a controlling interest in procurement and food distribution business Digistics and a 75% interest in logistics services company Safika Oosthuizens.
The group reported a net debt position of R159-million as at June 2013, down from a net cash position of R429-million at June 2012, owing to the acquisitions made and the developments at Super Park.
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