Purple Group forecast earnings for the six months to end-February will more than treble thanks to its EasyEquities investment platform.
The group forecast basic and headline earnings per share (HEPS) of 2.29c-2.44c compared to 0.78c a year in the previous period.
The financial services company is scheduled to publish its interim earnings on April 9.
The Easy Group portfolio, which includes EasyEquities, EasyProperties, and EasyAssetManagement, has been the primary driver behind the company’s strong performance.
In the previous half-year period, the company’s revenue increased by 34.9% to R165.4m and it generated a profit after tax of R11.8m, compared with a prior loss of R16.5m.
Since its launch in 2014, the platform has disrupted the SA investment landscape by making retail investment more accessible. The platform enables users to invest in local and international markets.
It has gained popularity among young investors due to its affordability and features like auto-investing and fractional trading. It has more than 1.2-million customers.
CEO Charles Savage has said the previous results not only “signify a strong foundation for the future but also serve as a testament to the strategic foresight and vision that propelled EasyEquities from its inception in October 2014”.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.