The group expects a headline loss for its year to end-June, but Sasfin Wealth posted record growth in assets under advice and managementFinancial services provider Sasfin Holding has warned it has swung into a loss in its year to end-June, amid credit impairments and writedowns to reflect deteriorating economic conditions.
The group expects a headline loss per share of between 148c and 156c to end-June, from headline earnings per share of 501c previously, but adjustments should largely be one-off, the group said. Sasfin said net available cash rose to R2.38bn, from R2.07bn previously, while Sasfin Wealth posted record growth in assets under advice and management of 18.45% to R48.7bn.
Sasfin said it was focused on improving its business through adoption of digital technologies, which along with steps to manage cash, “will ensure that the group is well-positioned to take advantage of both organic and acquisitive growth opportunities.”gernetzkyk@businesslive.co.za
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