ON THE SPOT
Anchor Capital unfazed by short-term slide
Business Day asks CEO Peter Armitage about the company’s less-than-impressive results
Anchor Capital’s fortunes have been decidedly rocky since the company went public in 2014, and the share price halved in 2017 to below R5. The latest results show a 39% drop in headline earnings, but the group is still bringing in assets. Business Day asked CEO Peter Armitage: Has Anchor’s share price decline had a big effect on staff morale, having spiked after listing, and slid to where it is now? We’re still up 150% since we listed and I think the core staff members are long-term players in the business. I think if you look at our plan when we started and where we’re at, we’re achieving a lot of our metrics. The staff base is intact. You drew in 500 high net worth clients over the six months to June, but how confident are you of attracting more assets? There are different parts to the business – equities, fixed income and offshore, so the offshore part of our business is growing very nicely. The difficult part has been domestic equities – if you look at the past 18 months of the ...
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