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Super Group on acquisitions trail

Feb 12 2013 14:16 Mzwandile Jacks

Company Data

SUPER GROUP LIMITED [JSE:SPG]

Last traded 31.33
Change 0.08
% Change 0.00
Cumulative volume 250509
Market cap 9.88bn

Last Updated: 01/09/2014 at 04:25. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Super Group [JSE:SPG] has a strong balance sheet which positions the company to continue with its growth strategy of organic growth and acquisitions, the JSE-listed transport group said on Tuesday.

This means the company is bent on growing earnings by making acquisitions this year, despite the fact that the South African trading environment remains highly competitive.

In the six months to December 2012 the company did not declare a dividend. This was in line with its strategy of using cash to make acquisitions and repurchase shares.

Super Group CEO Peter Mountford said Africa Logistics is assessing a number of opportunities in the territories in which it operates, and is implementing strategies to improve operating efficiencies in the Democratic Republic of Congo.

“Supply Chain South Africa will continue to focus on niche opportunities within the food services, retail and pharmaceutical sectors,” Mountford said, without naming the targeted opportunities.

“The expansion of the Super Park facility is progressing well. SG Convenience and a new customer, on a long-term lease, will occupy their respective warehouses towards the end of 2013.”

 - Fin24

 
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