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Earnings leap for PSG

Johannesburg - Investment group PSG Group [JSE:PSG] on Monday reported a 16.6% leap in recurring headline earnings per share from 207.4 cents to 241.9 cents for the year ended February.

Headline earnings per share for the period increased by 23.1% from 249.2c to 306.7c.

The total dividend for the 12 months amounted to 67c, reflecting an increase of 59.5%.

"PSG continues to use the recurring headline earnings method to provide management and investors with a more realistic and transparent way of evaluating PSG's earnings performance," it said.

The group noted that Capitec and Zeder Investments [JSE:ZED] were the best performers during the period under review, while Paladin's investments in the construction and manufacturing sectors had not escaped the aftermath of the economic recession.

"We, however, remain confident that these businesses will improve their performance in the near future," it added.

Attributable earnings for the year rose by 87.8% to 424.1 cents per share.

The group said that the significant increase in attributable earnings per share was mainly as a result of the non-headline profit on Paladin's sale of CIC and Zeder's sale of KWV Holdings.

The sum-of-the-parts value per share for the year increased by 76% to R46.81. 
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