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Data mined: Purple Group

Market rewards good results out of small-cap financial player.
A key feature of the updated Moneyweb Click-A-Company section is our ability to track what companies readers are interested in and serve them with appropriate content. While major players like Sasol, Aspen and Steinhoff are regular favourites of readers, from time to time you will find smaller companies popping up on the radar, Friday being a case in point. 

 
JSE-listed financial services group Purple Group was the seventh most searched for company coming in behind Sasol, Steinhoff, MTN, Anchor Group, Aspen and Naspers. The company saw more searches than Capitec, BHP Billiton, Old Mutual and SABMiller. 
 
This can be attributed to a solid set of interim results released on Friday plus a 10.8% spike in the share price. 
 
On Friday the company released interim results for the six months ended February 28 2015 with a 28% increase in revenue to R62.6 million, a 94% increase in earnings per share to 2c per share and a surprise 1c per share dividend. 
 
Key takeaways from the financial results included: 
 
Derivative trading division GT247.com posted revenue growth of 35% to R48.3 million while asset management business Emperor Asset Management increased asset management fees to R4.6 million from R2.3 million in 2014 for the period. Active clients increased by 25% to 1 733, with a resultant increase in client funds of 34.8%, reaching R522.2 million at February 28 2015. The low-cost stockbroking business Easy Equities, launched in October 2014, has opened 4 086 accounts and attracted R62.1 million of client funds. 
 
The Easy Equities offering was announced earlier this year as the Accenture Innovation Concept for 2014 as part of the consulting group’s annual Innovation Awards in South Africa.  
 
“These results build on the significant progress already made over the last two years in the group’s strategic focus and the diversity and resilience of our sources of revenue,” said Purple Group CEO Charles Savage in the results commentary released on Friday.
 
Savage told Moneyweb that one of the key aspects of the business going forward is its ability to service clients across the spectrum from novice investor, unit trust investors and more active day-traders through the derivative offering. 
 
* Author holds shares in Purple Group 
 
 
 
 

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