CSG shares jump 6% on solid full-year results
CSG’s share price rose as much as 6% on Thursday morning after reporting a 27% increase in net profit for the year to end-March. Acquisitions including Revert Risk Management Solutions helped grow revenue 22% to R2.23bn. The group, which supplies contract workers for services including catering and security, maintained its dividend at 5c. "The current business environment and trading conditions are expected to remain challenging with only a small number of new infrastructure developments expected in the near future," the company said in a statement. "CSG’s diversification strategy has been successful and the group is well positioned for future growth with a strong foundation of diverse services covering various industries." The micro-cap stock concluded a few acquisitions during the review period, which included a cleaning company Industroserve, as well as training company Siyaya. Headline earnings per share rose 13% to 21.85c, the results statement showed.