SG Fleet drives into the UK market

Wilson Asset Management

Wilson Asset Management

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.

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Wilson Asset Management
Wilson Asset Management

Wilson Asset Management has a track record of making a difference for shareholders and the community for more than 20 years. As the investment manager for eight leading LICs – WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB),...

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