SG Fleet drives into the UK market

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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