Diversified financial services company Efficient Group reported a 5% decline in half-year profit after tax to R18m from R19m in the six months to February 2016. Headline earnings per share for the period also declined by about 5% to 20.22c from 21.26c in the six months to February 2016. Revenue of R465m was 9% higher than revenue reported for the comparative period. The group said it delivered revenue growth despite the 3% contraction by the JSE all-share index over the six months to February, which negatively affected higher-yielding assets under management and assets under consulting. Efficient Group’s products and services include financial planning services, asset management, asset consulting, asset administration, fiduciary services and advisory services. Its business is structured into three business units: financial services, services and solutions, and investments. It said that despite the poor performance of financial markets and a challenging economic environment, the grou...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.