Anything that adventurous bunch at investment house PSG is involved in is worth watching. So when empowerment pioneer Patrice Motsepe’s African Rainbow Capital (ARC) joins PSG as a significant shareholder in a venture, then it’s time to pay attention.The company in question is services specialist CSG Holdings — where PSG and ARC now speak for about 25% of the issued shares. CSG’s traditional staffing solutions and its industrial/mining services divisions remain chunky operational elements — but the latest interim results show the success it is having in broadening its facilities management (FM) division.The FM division is now the largest in CSG, after acquisitions in the catering, cleaning and security sectors. The half-year report showed the division’s revenue up 88% to R392m, with operating profit close to R29m.This means the FM division accounted for 40% of total operating profits. With margins on this (mostly) annuity business being held at more than 7%, there will surely be fur...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.