PSG Konsult interim results August 2018
Net written premium lowered to R440.5 million (R450.1 million) whilst total income grew to R2.3 billion (R2.1 billion). Profit attributable to owners jumped to R281.8 million (R239.4 million). In addition, headline earnings per share rose to 21.5 cents per share (18.2 cents per share).
Given our continued confidence in business prospects, the board decided to approve and declare an interim gross dividend of 7.0 cents per share from income reserves for the six months ended 31 August 2018 (2017: 5.7 cents per share), which represents a 23% increase from the previous interim period. The group's dividend payout ratio remains at the low end of the dividend payout policy range announced at the time of listing.
Company's looking forward
We continue to monitor all actions that stem from the current corporate, political and economic climate, and the associated impact on our clients and other stakeholders.
The group's aim remains to service existing clients in an integrated manner that is seamless and market leading, as well as to gain new clients. Several initiatives are in place to ensure this continues. The group's focus on products, platforms and client service excellence, through the quality of its advice process, works. As such, the prospects for continued growth remain compelling.
The cash-generative nature of the business gives PSG Konsult several options for funding business growth initiatives. These are ultimately aimed at enhancing our overall client experience.
The group will continue to prioritise organic growth in our current selected markets where we have relatively low, but rapidly expanding, market shares. The group's capital position adequately considers our current growth plans.