Why Super Group Shares Are Trading Higher Today

Super Group (SGHC) Limited SGHC reported the second quarter of FY23 revenues of $415.034 million, beating the consensus of $383.05 million.

EPS of $0.06 beat the consensus of $0.02.

Revenue growth of 19% was driven by growth from Africa and the Middle East and European markets, partially offset by declines from North America (predominantly in Canada due to regulatory changes in Ontario) and Asia-Pacific markets.

Monthly Active Customers increased 40% to 3.7 million during the second quarter of 2023 from 2.7 million in the second quarter of 2022.

The company exited the quarter with cash and equivalents worth €228.7 million.

"Achieving scale in each of our markets, combined with driving cost efficiencies throughout the business remain our focus for long-term growth and bringing us back to consistent ex-US EBITDA margin from operations of greater than 20%. With regards to the US, the business is tracking in-line with expectations and we are confident in our strategy," said Alinda van Wyk, Chief Financial Officer of Super Group.

Price Action: SGHC shares are trading higher by 14.3% to $3.34 on the last check Thursday.