Logistics and supply chain management company Super Group says it expects earnings to surge in its 2022 year as it experienced increased market share coupled with significant growth in operational and pretax profit.
In a trading statement for the year to June 30, the group said on Tuesday headline earnings per share would jump 29.6%-43.7% to 37c-42c.
The trading statement was released according to JSE listing requirements which compel companies to alert the market when they know their financial results will differ by 20% or more from the previous matching period.
“The group’s financial position is robust and cash flow has been resilient in these challenging circumstances, the group said in a statement.
“This outstanding performance has been delivered despite the recent flooding and unrest in KwaZulu-Natal and in the face of disruption as a result of the high levels of load-shedding being experienced in SA.”
Super Group, which operates in Sub-Saharan Africa, Australasia, the EU and UK, last year reported stock and vehicle losses amounting to R45.7m over last year’s unrest in KwaZulu-Natal, and forgone revenue at R97.5m.
But on Tuesday, the group with a market capitalisation of more than R10bn on the JSE reported that most of its businesses had performed strongly in the year to June while revenue growth has been good due to market-share gains.
It attributed the “excellent trading performance” and growth in operational and pretax profitability to the benefit of having right-sized businesses and cutting overheads.
The company’s results are expected to be released on August 30.
Super Group’s share price rose the most since December 2020 on Tuesday, up 6.64% at R27.62, its highest level in two weeks. It is, however, down 18.79% since the beginning of the year.
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