JAMIE CARR: PSG Konsult suited to new environment
The company is in a strong financial position that should lead to further growth
After the unbundling of the mighty Capitec, PSG Konsult is now the largest holding in the PSG group, and its interims show a workmanlike performance in clearly challenging market conditions. It is obviously fortunate that financial services are well suited to the new work from home environment, and it is remarkable how quickly and effectively most operations managed to adapt to the switch to remote and the tyranny of zooming.
The company’s wealth division put in the strongest performance of its three segments, with earnings growth of 25% as it reaped the benefits of its investment in technology over the past several years, and clients’ assets under management increased by 11% in the period. It believes that in times of unprecedented uncertainty, its clients come to depend on expert advice from advisers, and that this should underpin the prospects of the division into the future.