CSG puts trust in management and security divisions
CSG Holdings, the services company with PSG and African Rainbow Capital as major shareholders, wants to lock in big profits from its facilities management and security services segments in the next few years. Speaking after the release of year to end March results on Thursday, CSG CEO Pieter Dry said facilities management and security services, which already accounted for more than 65% of operating profit, would generate about R1.7bn in earnings before interest, tax, depreciation and amortisation within five years. Dry said the acquisitive security services segment still had ample opportunity for acquisitions in a fragmented sector. "Now that we are a bigger player, security company owners are knocking at our door. But we are going to be very selective in making new acquisitions going forward."
In a post balance sheet event, CSG reported an agreement with SOS Protec Sure. This entailed SOS Protec Sure and CSG subsidiary 7Arrows Security selling each other a portion of their re...