SG Fleet drives into the UK market
On Thursday, SG Fleet Group (ASX: SGF) announced the acquisition of UK contract hiring and fleet management company Fleet Hire. The total value of the acquisition is 25.7 million pounds (AUD $44.1 million). The company said the acquisition gives SG Fleet scale and a profitable platform for continued growth in the UK market. The company also announced that it expects underlying net profit after tax for the 2016 financial year to be $52.1 million, slightly ahead of our expectations. Shares in SG Fleet closed up 9% for the week. We own SG Fleet as a research driven investment in WAM Capital and WAM Research.
Never miss an update
Enjoy this wire? Hit the ‘like’ button to let us know.
Stay up to date with my current content by
following me below and you’ll be notified every time I post a wire
Wilson Asset Management has a track record of making a difference for shareholders and the community for 25 years and is the investment manager for eight LICs - WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB), WAM Microcap (ASX: WMI), WAM Alternative Assets (ASX: WMA), WAM Strategic Value (ASX: WAR), WAM Research (ASX: WAX) and WAM Active (ASX: WAA) - and the Wilson Asset Management Leaders Fund. Wilson Asset Management invests over $5 billion on behalf of more than 130,000 retail investors. Wilson Asset Management created and is the lead supporter of the first LICs to deliver both investment and social returns: Future Generation Australia (ASX: FGX) and Future Generation Global (ASX: FGG).
1 stock mentioned
Wilson Asset Management
Wilson Asset Management has a track record of making a difference for shareholders and the community for 25 years and is the investment manager for eight LICs - WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB), WAM Microcap...
Wilson Asset Management
Wilson Asset Management has a track record of making a difference for shareholders and the community for 25 years and is the investment manager for eight LICs - WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB), WAM Microcap...
Comments
Comments
Sign In or Join Free to comment
most popular
Equities
Why "buy and manage" is the better way to invest in stocks
Livewire Markets