Johannesburg 12 September 2018 – JSE-listed African financial services group, Ecsponent Limited, today published a trading update, which advised shareholders that the group expects to continue to build on the exponential growth it has achieved each year since 2011.

 

The group is expecting the results for the 15-month period ended 30 June 2018*, when compared with the published results for the financial period ended 31 March 2017#, will show:

  • an increase of more than 100% in headline earnings per share (“HEPS”), to HEPS of between 6.989 and 6.992 cents share; and
  • an increase of between 10% and 20% in earnings per share (“EPS”), to an EPS of between 9.218 and 10.056 cents per share.

 

The group’s profitability was notably driven by organic growth in its credit operations and expansion of its Supply Chain credit activities. The group also has a strong acquisitive growth appetite and recently announced several strategic transactions to increase the assets in its Equity Holdings investment portfolio by a cumulative value of R1.2 billion.

 

Terence Gregory, Ecsponent Group CEO, says, “It is not just the quantum of these transactions that is significant to the group, but more importantly the sectoral, geographical and currency diversification that is added to our Equity Holdings portfolio. Moreover, these investments represent assets in high-growth areas with outstanding prospects and will provide a balance between the group’s short-term cash-generative assets and longer-term growth assets.”

 

“We’ve created solid growth platforms that support our opportunistic and agile approach, as is evidenced by the overall performance of the group to date. All our efforts in the reporting period were focused on providing further momentum to growing the portfolio and our asset base,” concludes Gregory.

 

Ecsponent will release the audited financial results for the 15-month period ended 30 June 2018 on 18 September 2018. Register to receive the full results and commentary via email immediately after release.

 

A presentation on the results will be hosted by the Investment Analyst Society of South Africa on 18 September 2018, at the JSE Limited in Sandton, starting at 12:30. Register here for more details.

 

View previous financial results.

 

* The group announced on 28 March 2018 that its financial year end had changed from 31 March 2018 to 30 June 2018. The financial year ended 31 March 2017 was a 15-month period.