Marc Hasenfuss Editor-at-large

Those punters looking for safety in numbers at services group CSG Holdings might have been a little rattled by an update that showed the acquisitive security & risk solutions division had taken strain during the year to end-March 2019. More seasoned small-cap pundits, however, might be less surprised — remembering how the old Command Holdings struggled to hold firm at the centre following its acquisition spree after listing in 2000. Of course, CSG is of a better pedigree than Command. In its security arm, the company owns a number of brands, like 7Arrows Security and Hi-Tech Security in Mpumalanga; in its facility management arm, it owns cleaning companies like Afriboom and catering services through CSG Food Solutions; and it has a staffing and recruitment arm too. It means CSG has decent cash flows from a diversified spread of services and it boasts strong(er) shareholders like PSG Alpha. It’s also tempting to give CSG some leeway. The security cluster results reflect the one-off s...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.