Transaction Capital gets WeBuyCars bump as profit exceeds pre-pandemic levels

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Resilience in group’s taxi-focused businesses and surprising growth ensures profits are up a quarter

Transaction Capital says its 2021 earnings have rebounded to well above pre-pandemic levels, with SA biggest taxi financier optimistic about further growth amid record levels of traffic for its newly acquired second-hand car platform WeBuyCars.

Core headline earnings from continuing operations surged 264% to R1bn in the group’s year to end-September, up 27% from 2019, with the group also benefiting from robust activity for Transaction Capital Risk Services , which is involved in debt collection and buys non-performing loan portfolios from the risk averse...

 

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