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The fleet is on: JSE's next addition Zeda upbeat amid profit jump

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Integrated mobility group Zeda, which is set to become the latest addition to the JSE next month, says it is confident about what it has to offer investors as its unbundled out of parent Barloworld, even though demand in the industry is still struggling to fully recover from a crash during Covid-19.

Zeda, which operates under the Budget and Avis brands, released its maiden annual results on Monday, reporting a 6.6% climb in revenue to R8.1 billion to end-September, while operating profits jumped than half to R1.3 billion, boosted by used vehicle prices, but despite a smaller fleet.

CEO Ramasela Ganda told News24 that despite SA's inbound travel market still only being about 40% of pre-Covid-19 levels, it was an "opportune" time to list a business division that had just delivered a 32.7% return on equity. This is a measure of how well a company is translating financing into profits, and while it varies across industries, generally 15% and above is considered a solid performance.

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