Super Group earnings benefit from Europe supply chain sector improvements
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Super Group expects headline earnings a share to be between 248-303 cents for the year to June 30, 2021, representing an increase of 64-100 percent over the previous year, the group said in a trading update yesterday.
Revenue was expected to be R36.8-R43.8 billion, an increase of 6.4-26.5 percent over the previous year. Operating profit was expected to increase by between 20.8-46.5 percent.
Revenue reflected strong sales performances in Fleet Solutions and Dealerships UK in particular. The historically under performing South African Consumer and Convenience businesses and the European Supply Chain operations continue to show significant financial improvement.
Cash generated from operations had been good. All capital projects that were delayed as a result of the lockdowns in South Africa during the previous financial year had been caught up with. Net debt to equity, excluding IFRS 16 was 21.5 percent as at December 31, 2020 and was expected to decline further in the period to June 2021.