Integrated Report 2021

Group operating review

Group operating review
Fix and optimise    
In line with our focus on optimally deploying capital within the group, we exited our Motor Retail business during the period under review and are in the process of selling our Logistics businesses. We have also indicated we will exit our Car Rental and Leasing business in the medium term. Going forward our focus will remain on reviewing businesses with low operating profit performance and on implementing the various disposal and corporate actions intended to simplify the group’s portfolio.  
Acquisitive growth and portfolio changes    

We successfully executed two significant acquisitions in 2020, namely Equipment Mongolia and Ingrain. The integration of these acquisitions into the group is progressing well and both businesses are delivering ahead of our initial expectations. Our short-term priorities are to complete these integrations and extract further value.

Future acquisitive growth, in line with our identified strategic growth segments, will be considered once we have completed the remaining portfolio changes.