The company had incurred a R317m expense in its year to end-August 2018
Small-cap financial services company Efficient Group, which may delist from the JSE amid a buyout offer, said on Friday it would return to profit in its year to end-August. This is after the company recovered from cancellation fees from bringing its investment unit in-house.
Recurring HEPS — which excludes the effects of the cancellation fees — is expected to rise by as much as 116% from the prior comparative period, the company said. The joint management and profit-sharing agreement with Robert Walton, the founder of the investment business called Efficient Invest Companies saw Walton and his team earn 66% of the unit’s profit before tax.Efficient may soon de-list from the JSE, having said i
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