A solid scor­ing po­si­tion

Financial Mail - - DIAMONDS & DOGS - @jamiecarr

Imag­ine, if you will, that you’re a de­cent school­boy crick­eter and have man­aged to ce­ment your place in the Affies first

XI, much to the pride of your fam­ily and friends and to the ad­mi­ra­tion of the fair maid­ens of Pre­to­ria. Then you re­alise you are wielding the wil­low along­side the young AB de Vil­liers and Faf du Plessis, and while the team’s re­sults may be tidy, your per­sonal brand may not have quite the ef­fect you were hop­ing for with the meisies.

This is the slight tech­ni­cal hitch that has faced PSG Kon­sult, which would look like a solid per­former in the av­er­age line-up, but which has looked a bit of an ugly sis­ter in com­par­i­son with sta­ble­mates Capitec and Curro.

Its re­cent re­sults may have lacked a lit­tle froth, but they were a com­mend­able ef­fort in a mar­ket that the com­pany char­ac­terises as low growth, low con­fi­dence and volatile.

PSG Kon­sult is con­fi­dent that changes to the po­lit­i­cal land­scape will in­ject con­fi­dence in its client base, who will be think­ing more of sav­ing for the fu­ture than pack­ing up and head­ing off.

Both the wealth and as­set man­age­ment busi­nesses de­liv­ered solid growth de­spite the macro-en­vi­ron­ment, and the com­pany has been in­vest­ing in its peo­ple and its plat­forms to en­sure that it con­tin­ues to pro­vide qual­ity ser­vice. The in­sur­ance busi­ness is start­ing to gain scale in a com­pet­i­tive mar­ket, and the group con­tin­ues to pur­sue bou­tique ac­qui­si­tions where ap­pro­pri­ate.

Over­all, PSG Kon­sult may not have had the ex­plo­sive growth of some

PSG busi­nesses, but it is build­ing a solid plat­form for the long term.

WPP’S em­pire owes more to the era of Don Draper than that of Mark Zucker­berg

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