Ecsponent Limited today announced that the JSE has approved the transfer of its listing to the Financial Services sector of the exchange’s main board. The company has been listed on the JSE since 1998 and has fulfilled all of the criteria for a main board listing as laid down in the JSE’s Listings Requirements. The revised listing will be effective on 20 June 2016.
This move was approved following Ecsponent’s sustained financial performance over the past five years. The latest financial results announcement at the end of March this year, which saw the group’s revenue grow by 178% to R 159 712 275 and total assets by 210% to R 466 178 735.
Commenting on the move, COO of Ecsponent Limited, Terence Gregory, says that the move coincides with the Company’s expansion into the asset management markets in both South Africa and Botswana. In addition, the recent results announcement reflected continued exponential growth, with an increase of more than 420% in total assets to R 443 million. With Zambia and Swaziland well positioned to further contribute to the group’s growth we have established the basis of our regional financial services footprint.
External revenue generated by the group’s financial services operations increased by 175.5% to R64.5 million for the year ended 31 December 2015, compared to R23.4 million for the 2014 financial year. The group’s revenue from financial services amounted to 40.4% of total revenue for the 2015 financial year.
Ecsponent’s expansion strategy has showed consistent and exceptional results since the current management team took over in 2010. Gregory believes the group’s focus on developing a robust and complementary financial services group of companies is taking shape under the guidance of its strong team.
Gregory says that in addition to creating innovative financial products and services whilst expanding its footprint into new territories, the group’s strategic focus will remain on investing in companies, specifically in the financial services sector, that have clear African and global market applications.
“These companies are required to produce products or provide services with high barriers to entry and high gross profit margins. The 2016 period will be a year of focused growth through product and market extension, aggressive trading and cost reduction and acquisitions that fit into the group’s core strategy,” he concludes.