PSG earnings get a boost, partially thanks to Capitec
Investment company PSG Group has said its earnings jumped 16% in the six months to end-August, partly thanks to its investments in Capitec and Curro.
The group said on Tuesday that its recurring earnings per share rose 16% to R5.84. The increase is attributed to the performance of its largest investment, Capitec, which reported a 20% rise in headline earnings per share (HEPS), as well as PSG Konsult, PSG Alpha, and private school network Curro.
The earnings increase was offset by a weaker performance from agribusiness company Zeder, which reported a 63% drop in recurring headline earnings for the period.
“Despite obvious challenges, PSG remains cautiously optimistic about SA and the opportunities it presents. We believe PSG’s investment portfolio is suitably positioned to capitalise on an improvement in trading conditions,” the group said.
The company, which is headed by the founder Jannie Mouton’s son Piet, declared an interim dividend of 164c, an increase of 8% from the comparable period in 2018.
PSG Group’s share price was up 0.33% to R228.65 at 3.24pm on Tuesday.