Super duper? More like super pooper. It's been a dodgy time for many companies in the transport sector - and none more so than Super Group and its former CEO, Larry Lipschitz.

In its interim report to December 2008, the company reported a bottom-line loss of R361m. This, despite a R422m operating profit. One problem, for a long while, was debt. By December, this exceeded R3bn, generating annual interest of R360m. A failed enterprise in Angola added to the problems.

Attempts to pump money into the business, through rights offers, have also brought more problems. After the first offer in October raised R510m, investors were unhappy to learn group founder Lipschitz had not subscribed. At the time of writing, Super Group had launched a second rights offer, this time to raise R1bn. Lipschitz, meanwhile, has left the company.

Not surprisingly, Super Group's share price has taken a tumble in recent months - but it's by no means alone. Global recession has whacked many companies in the transport sector. Those exposed to car sales have had a miserable time.

Ask Combined Motor Holdings. Its annual results to February 2009 were still not out at the time of writing but the report accompanying the interims to August 2008 made for unhappy reading. "Notwithstanding the extremely depressed and challenging trading conditions... the directors are disappointed at the results achieved. In line with national vehicle sales, revenue declined 23%... the full cost of branch closures and staff reductions have been absorbed. Despite this... the lower sales volumes resulted in a 72% fall in operating profit. Net finance costs increased by 65% as the result of a higher average prime overdraft rate."

Imperial Holdings was a little more cheerful in its interim report to December: "The results for the first half of our 2009 financial year are disappointing, but when viewed against the extremely difficult trading conditions... the performance was reasonable." Its operating profit of R1,15bn from continuing operations was 29,7% lower, and headline earnings 4% down. Without a R394m foreign exchange boost through capital repatriation from European operations, the earnings dip would have been a disastrous 51%. Operating profit from vehicle retail and distribution dropped 49%, dragging group operating margins down from 6% to 4%. Insurance profits fell 62%. During 2008, the group disposed of its aviation and commercial vehicle assembly activities, moves that have released capital into the group and allowed Imperial to concentrate more on what it considers core activities.

What these companies wouldn't have given to be in other forms of transport in 2008. Take shipping and freight logistics group Grindrod: during the 12 months to December, revenue grew 88%, attributable earnings 81%, headline earnings 95% and ordinary dividends 74%.

Fellow freight and logistics group Trencor couldn't boast Grindrod's growth in 2008 but neither could it complain. Increased profits at Textainer, the world's largest lessor of marine containers, boasted an 18% rise in headline earnings for the financial year to December. Textainer, in which Trencor has a 62,6% stake, reported a net profit of US$99,8m, a 38% increase on 2007. Consequently, Trencor's net trading profit grew 27% to R932m.