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Cape Town - PSG Konsult, an independent financial services provider, is set to make its debut on the JSE in June this year.
Announcing the company’s financial results for the financial year to February 2014, PSG Konsult CEO Francois Gouws said that the decision to list on the JSE follows the meeting of certain previously stated conditions for a listing.
“We wanted to bed down the structure of the group after the comprehensive restructuring process of the previous year and to release at least one full set of year-end financial results. This has been achieved," he said.
“The listing is about a further positioning of the company and establishing a sound track record for when capital might be needed in future. It is also about rating agencies considering a listing as more fitting.”
The listing is on the back of a robust set of financial results with recurring headline earnings increasing by a hefty 44% to R251.1m.
The recurring headline earnings per share grew by 35% to 20.5 cents with more shares in issue following a successful rights issue in September 2012.
The headline earnings grew by 41% to R244.4m and headline earnings per share by 30% to 20.0c.
An unchanged final dividend of 7.3c per share was declared to bring total dividend for this year to 11.3c per share.
Funds under management grew by 37% to R109bn and funds under administration by 31% to R234.5bn.
Underwriting premium income increased by 650% to R432.6m.
Gouws said the results are highly credible, especially when considering all the changes that took place within the group.
PSG Wealth increased its recurring headline earnings by 32% to R166.6m, while PSG Asset Management grew its recurring headline earnings by 76% to R54.4m.
The asset manager remains a high growth area for the group.
PSG Insure achieved 71% growth to R30.2m in recurring headline earnings.
“Going forward, we remain cautiously optimistic about our strategy. The strategic focus for the year ahead is top line revenue growth, which will enable PSG Konsult to unlock operational leverage scale benefits," said Gouws.
At the year-end PSG Konsult consisted of 193 offices and 1 841 employees, of which 618 were financial planners, portfolio managers, stockbrokers and asset managers.
Announcing the company’s financial results for the financial year to February 2014, PSG Konsult CEO Francois Gouws said that the decision to list on the JSE follows the meeting of certain previously stated conditions for a listing.
“We wanted to bed down the structure of the group after the comprehensive restructuring process of the previous year and to release at least one full set of year-end financial results. This has been achieved," he said.
“The listing is about a further positioning of the company and establishing a sound track record for when capital might be needed in future. It is also about rating agencies considering a listing as more fitting.”
The listing is on the back of a robust set of financial results with recurring headline earnings increasing by a hefty 44% to R251.1m.
The recurring headline earnings per share grew by 35% to 20.5 cents with more shares in issue following a successful rights issue in September 2012.
The headline earnings grew by 41% to R244.4m and headline earnings per share by 30% to 20.0c.
An unchanged final dividend of 7.3c per share was declared to bring total dividend for this year to 11.3c per share.
Funds under management grew by 37% to R109bn and funds under administration by 31% to R234.5bn.
Underwriting premium income increased by 650% to R432.6m.
Gouws said the results are highly credible, especially when considering all the changes that took place within the group.
PSG Wealth increased its recurring headline earnings by 32% to R166.6m, while PSG Asset Management grew its recurring headline earnings by 76% to R54.4m.
The asset manager remains a high growth area for the group.
PSG Insure achieved 71% growth to R30.2m in recurring headline earnings.
“Going forward, we remain cautiously optimistic about our strategy. The strategic focus for the year ahead is top line revenue growth, which will enable PSG Konsult to unlock operational leverage scale benefits," said Gouws.
At the year-end PSG Konsult consisted of 193 offices and 1 841 employees, of which 618 were financial planners, portfolio managers, stockbrokers and asset managers.
