PSG Konsult earnings beat pre-Covid levels

PSG Konsult, a leading financial services group, has recently reported a significant increase in group earnings, surpassing pre-Covid levels. The company's head earnings per share have surged by over 30%, with a final dividend of 22 cents per share declared. These impressive results come amidst challenging circumstances, including the ongoing natural disaster in Kausulu, Natale province, which has added to the region's woes following last year's unrest. Mike Smith, the Chief Financial Officer of PSG Konsult, shared insights into the company's performance and strategy. Smith acknowledged the tragic events in Kausulu, Natale, expressing concern for the impacted citizens. He reassured that PSG Konsult had extensive reinsurance coverage in place to mitigate risks from such catastrophic events. While the company has a minor exposure in the affected area, Smith emphasized PSG Konsult's focus on commercial insurance and its readiness to support the community in need. Turning to the company's earnings report, Smith highlighted the insurer division's steady growth, despite a slightly lower increase compared to other segments last year. He attributed this to muted GDP growth impacting top-line revenues. Smith also addressed the evolving landscape of the insurance industry post-pandemic, noting potential premium increases and the importance of knowledgeable advisors in navigating insurance complexities. In terms of asset management and wealth divisions, PSG Konsult saw robust inflows and positive market growth, driving strong performance. The company attracted substantial net new assets and delivered positive market gains for clients, reflecting the team's exceptional performance. Smith underscored the significance of technology and talent in PSG Konsult's growth strategy. The company has invested significantly in technology, with a focus on enhancing the client experience and operational efficiency. By bolstering its workforce and adopting innovative technologies, PSG Konsult aims to drive future growth and improve overall business performance. The commitment to long-term investment in technology and talent underscores PSG Konsult's proactive approach to adapting to evolving market dynamics and delivering value to its clients. The company's resilient performance and strategic initiatives position it well for sustained growth and success in the financial services sector.