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Combined Motor Holdings shares lift as it expects higher earnings

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Despite global supply and chip shortages, the car rental group has reported improved earnings for shareholders

Combined Motor Holdings expects to report a more than two-fold jump in annual earnings, triggering talk of a bumper dividend and sending shares of the owner of car showrooms and other motoring related businesses higher.

The share price rose by as much as 5.4% to R29.50, its best level in three years, before paring gains to end the day up 3.18% at R28.89, valuing the company at over R2.1bn. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

 

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