Purple Group Interim Results 2022 are out!

Our holding company Purple Group and its brands; GT247.com, EasyEquities, RISE and Emperor Asset Management, have released another set of exciting interim results. 

Here are some of the highlights: 

• Group revenue increased by 36.0% to R137 million;  
• Group costs increased by 39.7% to R93 million, however, the operating cost per invested EasyEquities client decreased by 24.7% to R80 per client, compared to the prior comparative period; and  
• Profit attributable to shareholders increased by 114.2% to R17.7 million, compared to a profit of R8.3 million in the prior comparative period. 

Our CEO Charles Savage adds; "The fundamentals driving the business are really very good, we’re experiencing strong growth in customers and platform assets whilst the cost of servicing and acquiring these clients continues to decrease. We have accelerated investment into new products, partnerships, and services, that will further differentiate the business and provide an extended runway for future growth in customer numbers and revenue per customer." 

We're especially pleased to be going into the next quarter with some fresh new talent joining the executive team. Nicola Comninos as our Chief Risk Officer and Rish Tandapany as our Chief Operating Officer.  

Nicola has spent 15 years at the JSE. From mid-2019 she was appointed as JSE Group Chief Risk Officer where she led, amongst other initiatives, the JSE’s Covid-19 response plan and the Financial Sector participation in an Eskom country-wide simulation. 

Nicola received the Risk Manager of the Year award in 2020 and in 2021 the Financial Services award from IRMSA, acknowledging the work she and her team have done in the risk management fraternity since 2019. 

Rish has more than 16 years of experience in investment banking, brokerage, data, foreign exchange, commodities, and securities trading.  
 
His previous roles include being Global COO/CFO of ADSS, a broker and investment management firm, as well as holding senior positions at Standard Chartered and Deutsche Bank. 

Recently, he has also held board and advisory positions in several Hong Kong and Singapore financial services firms. 

Read the full results here.