Australian SG Fleet Group Posts 18% Yearly Profit
Australian fleet-services firm SG Fleet Group recorded a net profit of $31.6 million for the 2017-18 financial year, continuing the company’s doubled-digit profit growth every six months since listing on the Australian stock exchange in 2015, reports Fleet Auto News.
The company’s first half net profit was 18.8% higher than the $26.6 million recorded on Dec. 31, 2016, according to Fully Loaded. This is on the back of a 15.4% increase in revenue company-wide to $154.2 million. The increase was due, in part, by the company’s acquisition of Fleet Hire and Motiva, both of which are U.K.-based companies.
SG Fleet is an international mobility solutions provider, specializing in fleet management and leasing, and salary packaging services. It has a presence across Australia, as well as in the United Kingdom and New Zealand, according to the company. It services passenger vehicles, light and heavy commercial vehicles, and specialist plant and equipment.