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Johannesburg - Super Group's Board of directors said it is pleased to report an excellent set of results for the year ended 30 June 2013.
The Group [JSE:SPG] has achieved a significant increase in earnings notwithstanding the difficult economic and trading environment.
The results were positively impacted by the acquisitions made during the financial year as well as organic growth in all three divisions.
The South African Supply Chain business experienced intensified competition, especially in the Fast Moving Consumer Goods (FMCG) market where indicators confirmed that the South African consumer remained under pressure.
The transport and logistics industry was also adversely impacted by protracted strike action and labour unrest during the first half of the year and above inflationary labour cost increases.
There was a marked slowdown in Australian commodity exports and the retail consumer market remained subdued as a result of the strong Australian dollar.
However, SG Fleet secured some landmark contracts. FleetAfrica performed ahead of expectations, testament to the resilience and sustainability of the South African operation in a highly competitive trading environment.
Naamsa new car sales reported for the year to 30 June 2013 grew by 8,8% compared to 20,0% for the comparable year to 30 June 2012.
The group successfully implemented a Broad-Based Black Economic Empowerment (B-BBEE) staff scheme for the South African operations, retaining its Level 3 B-BBEE rating.
Financial performance group's revenue increased by 14,8% to R11 718m. A significant portion of the growth in revenue (11,5%) was a result of new business generation within the group's existing businesses and, with the exception of FleetAfrica, all businesses reported real growth in sales for the year.
During the year, the group acquired a controlling interest in Digistics, a procurement and food distribution business in the Quick Service Restaurant industry, and a 75% interest in Safika Oosthuizens, a logistics services company that provides hauling of dry bulk goods such as coal, chrome and "run of mine minerals" in tipper trucks.
Digistics' and Safika Oosthuizens' financial results were incorporated into the group's results with effect from October 1 2012 and March 1 2013, respectively.
Operating profit increased by 22,0% to R1 134m. The group improved its operating margin to 9,7%. All divisions increased their margins as a result of the continued stringent focus on operational efficiencies and cost controls.
A reduction of 18,0% to R67m in net finance costs reflects the reduced average full maintenance lease borrowings and lower interest rates compared to the previous year.
Profit before taxation increased by 25,9% to R1 067m, reflecting the benefits of improved operational profitability and lower finance costs.
Earnings per share (EPS) and headline earnings per share (Heps) for the year under review increased by 27.6% to 220.0 cents and 18,6% to 212.7c respectively.
Adjusted Heps increased by 22.0% to 220.6c cents on the basis that the amortisation of intangible assets arising on business combinations, B-BBEE and acquisition costs amounting to 7.9c per share are excluded from Heps.
Total assets increased by 32,1% to R10 557m mainly as a result of acquisitions, the warehouse expansions at Super Park and an increase in working capital.
The focus on management of working capital continued to be a priority and, as a result cash generated from operations, after a working capital outflow of R286m, was R1 155 million for the year ended June 30 2013.
The Group [JSE:SPG] has achieved a significant increase in earnings notwithstanding the difficult economic and trading environment.
The results were positively impacted by the acquisitions made during the financial year as well as organic growth in all three divisions.
The South African Supply Chain business experienced intensified competition, especially in the Fast Moving Consumer Goods (FMCG) market where indicators confirmed that the South African consumer remained under pressure.
The transport and logistics industry was also adversely impacted by protracted strike action and labour unrest during the first half of the year and above inflationary labour cost increases.
There was a marked slowdown in Australian commodity exports and the retail consumer market remained subdued as a result of the strong Australian dollar.
However, SG Fleet secured some landmark contracts. FleetAfrica performed ahead of expectations, testament to the resilience and sustainability of the South African operation in a highly competitive trading environment.
Naamsa new car sales reported for the year to 30 June 2013 grew by 8,8% compared to 20,0% for the comparable year to 30 June 2012.
The group successfully implemented a Broad-Based Black Economic Empowerment (B-BBEE) staff scheme for the South African operations, retaining its Level 3 B-BBEE rating.
Financial performance group's revenue increased by 14,8% to R11 718m. A significant portion of the growth in revenue (11,5%) was a result of new business generation within the group's existing businesses and, with the exception of FleetAfrica, all businesses reported real growth in sales for the year.
During the year, the group acquired a controlling interest in Digistics, a procurement and food distribution business in the Quick Service Restaurant industry, and a 75% interest in Safika Oosthuizens, a logistics services company that provides hauling of dry bulk goods such as coal, chrome and "run of mine minerals" in tipper trucks.
Digistics' and Safika Oosthuizens' financial results were incorporated into the group's results with effect from October 1 2012 and March 1 2013, respectively.
Operating profit increased by 22,0% to R1 134m. The group improved its operating margin to 9,7%. All divisions increased their margins as a result of the continued stringent focus on operational efficiencies and cost controls.
A reduction of 18,0% to R67m in net finance costs reflects the reduced average full maintenance lease borrowings and lower interest rates compared to the previous year.
Profit before taxation increased by 25,9% to R1 067m, reflecting the benefits of improved operational profitability and lower finance costs.
Earnings per share (EPS) and headline earnings per share (Heps) for the year under review increased by 27.6% to 220.0 cents and 18,6% to 212.7c respectively.
Adjusted Heps increased by 22.0% to 220.6c cents on the basis that the amortisation of intangible assets arising on business combinations, B-BBEE and acquisition costs amounting to 7.9c per share are excluded from Heps.
Total assets increased by 32,1% to R10 557m mainly as a result of acquisitions, the warehouse expansions at Super Park and an increase in working capital.
The focus on management of working capital continued to be a priority and, as a result cash generated from operations, after a working capital outflow of R286m, was R1 155 million for the year ended June 30 2013.
