CSG Holdings, which recently added a security services division to its portfolio, said on Thursday that the economic environment provided opportunities for more take-overs. The acquisitive, JSE-listed staffing services, facility management and security group grew revenue in the six months to end-September by 26% to R1.1bn. Profit after tax was up 37% at R59.6m. "We anticipate that overall organic growth is still possible from this solid base, and current economic conditions provide opportunities for further, lucrative earnings [and] accretive acquisitions at very attractive multiples," the group said. In March, CSG bought security company Revert Risk Management Solutions for R100m. It also recently bought cleaning company Golden Dividend 401, training firm Siyaya Hygiene and Cleaning Skills Institute, and the alarm and monitoring business of Cortac in parts of Johannesburg. The company said its revenue and profit gains "were achieved through both organic and acquisitive growth", add...
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