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SG Fleet beats prospectus forecast

Car fleet manager and salary packager SG Fleet has just beat its prospectus forecasts by 1.4 per cent to post a $35.4 million profit in its first results after listing in March.

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Proposals to cut tariffs on used car imports will have little impact on earnings according to Robbie Blau , the chief executive of car fleet manager and salary packager SG Fleet .

The resale value of cars it leases accounts for about 10 per cent of its ­revenue and analysts have raised concerns a Productivity Commission proposal to remove restrictions on used car imports may reduce car prices and hit the revenue of the newly floated company.

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Shaun Drummond writes on financial services from our Sydney newsroom. Connect with Shaun on Twitter.

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    Original URL: https://www.afr.com/companies/sg-fleet-beats-prospectus-forecast-20140819-jkngr