Stronger second half pushes SG Fleet Group profit to $67.7 million

Company News

by Anna Napoli

SG Fleet Group (ASX:SGF) has reported its net profit after tax (NPAT) rose about 13.6 per cent on FY17 to $67.7m for the 2018 financial year.

The fleet management company’s, sales revenue strengthened over the 2018 financial year, and lifted almost 7.9 per cent on FY17 to $316.5 million.

Expenses increased by 8.4 per cent to around $220 million, this was largely driven by an increase in fleet management costs, as well as higher depreciation and amortization.

The company declared a final dividend of 9.958 cents with total dividends up 11.5 per cent on the prior corresponding period.

The company says strong contributions from acquisitions made in the UK in the previous year, as well as from New Zealand operations helped deliver better second half performance.

Shares in SG Fleet Group (ASX:SGF) are trading 2 per cent higher to $3.57

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.