With South Africa’s sluggish growth prospects confirmed in Wednesday’s budget, you would think investors would be happy with an acquisition-hungry company delivering revenues up 22 per cent.
Imperial Holdings, South Africa’s largest car dealership and logistics company, completed seven acquisitions in the second half of 2011 – and that doesn’t include the recent purchase of German logistics provider Lehnkering for €270m. But shares were down 1.17 per cent at one stage on Wednesday before recovering slightly. You can’t please everyone.
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