SANTOVA

Finweek English Edition - - COVER STORY -

4 1San­tova is a lo­gis­tics com­pany that has been listed since 2002. It suc­cess­fully nav­i­gated the global fi­nan­cial cri­sis and has pro­duced profit with­out in­ter­rup­tion since list­ing. The com­pany has of­fices through­out South Africa, as well as in Hong Kong, Aus­tralia, the UK and the Nether­lands, in­clud­ing strate­gic part­ners through­out the world. The bal­ance sheet is ungeared, with net cur­rent as­sets of R64m, which com­pares favourably to its mar­ket cap of only R148m. The stock trades on a P/E ra­tio of 6 times and with a re­turn on eq­uity of al­most 20%. Earn­ings have more than dou­bled in the last three years, and we ex­pect this trend to con­tinue. When cou­pled with man­age­ment con­trol of the com­pany, this adds to an al­ready at­trac­tive prospect.

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