The acquisition of UK car dealer group Allen Ford has boosted the vehicle sales revenue of South African-based logistics operator Super Group.
London-based Allen Ford contributed R3.3bn (£159.9 million) to Super Group’s dealership revenue, helping it jump more than 80% to R9.3bn (£450.6m).
Super Group achieved this despite South Africa’s new vehicle sales suffering their biggest drop in more than a year in June due to a weakening economy.
Super Group acquired Allen Ford, the largest independently owned Ford franchise network in the UK, for £33.9m. The seven-month results reported by Allen Ford “exceeded expectations”.