Super Group Wheely good news
There was a time when the Tatler ran red with stories of Super Group’s imminent demise. Those days, thankfully, are over, as the logistics giant posted a handsome set of results last week, with operating profit up 25% to R612million, and operating margin up a couple of notches to 7.8%. According to Peter, Lord Mountford, who heads up the plucky outfit, this great success was due substantially to the turnaround of the African Logistics supply chain operation from an R18.8millon loss last year to an undeniably more pleasing R16.69million rand profit. The decision to renew the aging fleet, with its scruffy, devil-may-care bush-pilot drivers and exorbitant repair costs had been a good one, said Lord M, who forked out R87 large for the replacement of 300 trucks with nearly new yankee vehicles.
Comment: As we have often told anyone who cares to listen, logistics is the business for South African money to be in, as Africa assumes its position as the last great commercial frontier for anything modern and organised.