Business brief | Mantashe’s methane. Hamas-linked Barclays account frozen | Business

Business brief | Mantashe's methane. Hamas-linked Barclays account frozen | Business

PSG Financial Services, which changed its name from PSG Konsult in July, raised its interim dividend by almost a quarter as its profit attributable to ordinary shareholders increased by 18% to R482.41 million.

PSG Wealth, which contributes almost two-thirds of the group’s profit, delivered an 18% rise in recurring headline earnings, which came in at R312.91 million. Assets managed by the group’s advisors increased to R325.6 billion, which included R7.7 billion of positive net inflows. PSG Wealth grew its financial advisor network to 603 wealth advisors as at end-August 2023.

PSG Asset Management, which accounts for just over a fifth of group profits, delivered a 23% increase in recurring headline earnings, which reached R100.19 million in the financial first half. Client assets under management totalled R50.3 billion at end August, with net client inflows reaching R1.7 billion during the six-month period.

South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we’re about to enter a new chapter of fearless journalism. Join our free subscription trial to unlock this story and a world of news aimed to inform, empower, and inspire.