Niche financial services group Ecsponent more than doubled headline earnings per share (HEPS) for the 15-month financial year to end-June. "We are very proud as a management team to deliver these results, which represent seven years of successive growth," says CEO Terence Gregory. "We have a reasonably refined business model and we have stuck to our knitting." Revenue from continuing operations rose by 45% to R466m and HEPS more than doubled to 6.99c per share. The group’s total assets increased by 84% to R2.2bn The group comprises three primary business units. Its largest, in terms of capital allocated, is providing credit to small- and medium-sized enterprises (SMEs) that comprise BEE companies attempting to access opportunities in supply-chain procurement.
Total loans and advances increased by 65% to R1.23bn over the period and the division posted a small operating profit of R363,000. "Corporates are supposed to provide one third of procurement through previously disadvanta...
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