BUSINESS DAY TV: We need strategies that grow assets in difficult times
Charles Savage, CEO of Purple Group, speaks to Business Day TV about the company’s full-year results. BUSINESS DAY TV: Purple Group has today released its full-year results and the past year of building new products and crossing new frontiers in the worlds of investing, trading and asset management, as the group puts it, has come at a price. Group revenue decreased by 19.5% from R131.4m in 2015 while operating expenses increased by 24.8% and headline earnings per share (HEPS) decreased by 111% to a basic and headline loss per share of 0.37 cents. CEO Charles Savage joins me now in the News Leader studio. Charles … you’re accessing a much bigger market. Active clients up 94%, client assets up 41% and now sits at R1.3bn. Is the price tag that’s come with that justified? CHARLES SAVAGE: Yes, 100% it is. Where you’ve got to take into context the size of our income statement and balance sheet so any investment that we make is going to have a significant impact on our income statement. An...
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