Purple Group release their half year results

Our mates at Purple Group have released an impressive set of half year results following their strong financial results for the year ended 31 August 2018 which were released in November last year.

Through a lot of hard work, clever thinking and pencil sharpening, the group and its brands – GT247.com, EasyEquities, RISE and Emperor Asset Management – managed a 41.9% increase in revenue and only 0.7% increase in expenses!

Other highlights included:

  • A 53,9% increase in revenue for EasyEquities.
  • A 34, 1% growth in platform assets for EasyEquities.
  • A 43,5% increase in revenue for GT247.com.
  • GT247.com also increased their net income from operations by 485%.

We are incredibly proud of the team and the work that they are doing to democratise everything to do with investing. They have made great progress over the last 6 months and it is exciting to see the tipping point approaching.

Here is what Charles Savage, Purple Group CEO, had to say about the results.

“An admirable set of half year results has set the tempo for an exciting 2019 for the Purple Group. To the ever-increasing loyal shareholders who support our dreams to democratise all things investing, these results should come as no surprise.

The resilience of our strategies and the determination of our team to deliver, despite the difficult economic climate, is commendable and the rising tide of everyday South Africans taking up investing for the very first time continues to lift the group.

The challenges of scaling a business are a part of every disruptive digital success story and they are very much a part of our story too. If you look at companies like Facebook or Amazon, their journeys haven’t been without challenges either. Why? Because like us, they’re constantly pushing to drive scale and exponential growth in their business. This means adding new features, bringing on new partners and supporting a customer base whose trajectory is anything but horizontal.

Every day is our biggest day, every month new records are broken and each quarter we climb our very own Everest. There is never a moment to so sit back and relax… and we are grateful for that. In fact, we love every moment of it. It’s what gets us all out of bed early – knowing that we are increasing participation in investing in the stock market and making investing fun for everyone is an exciting endeavour.

We are scaling for a future where millions of customers are investing billions of Rands every single day, and we are getting there faster than we could ever have dreamed. We take your security of assets, data and the integrity of our systems very, very seriously whilst balancing the need to deliver faster, easier, cheaper, better financial services. We are very grateful to all our stakeholders for being a part of this incredible journey and are extremely proud of the ever increasing role of partners that continue to join us in our cause.

The next 6 months are full of more challenges and ever greater opportunities, we look forward to sharing the outcomes with you.”

Read the full break down of the interim results here.

Since Purple Group is a listed company, anyone can buy in and become a shareholder. And using the group’s EasyEquities platform makes an investment in this stock (JSE:PPE) really easy (as the name suggests), join the investment revolution and let’s democratise all things investing.