Purple Group’s Remarkable Year: 1-Year Milestone Marked by 0.8% Revenue Surge, EasyEquities Triumph, and Strategic Vision Unveiled

  • Resilient Growth: Purple Group celebrates 1-year anniversary, demonstrating resilience with a 0.8% revenue increase, reaching R276.1 million.
  • EasyEquities Momentum: EasyEquities Group thrives with 11.1% revenue growth, 18% more registered clients, and a 25.3% rise in platform assets.
  • Strategic Vision: CEO Charles Savage outlines strategic moves, including Southeast Asia expansion, new product launches, and continued technology investment.
By Lethabo Ntsoane

Purple Group Limited, a leading financial services provider, celebrates its 1-year anniversary with a noteworthy journey marked by resilience, adaptability, and strategic growth. The company, incorporated in the Republic of South Africa, has navigated economic challenges and continued to demonstrate a relentless focus on core value drivers.

Consolidated Results Overview:

In the consolidated results for the year ended August 31, 2023, Purple Group revealed a mix of challenges and successes:

MetricsFigures (in R millions)
Group Revenue Increase0.8% growth to R276.1 million
Group Expenses Growth31.9% increase to R280.2 million
Loss before Adjustments & TaxR49.0 million loss
Group Headline Loss per Share2.05 cents
Group Basic Loss per Share1.90 cents
Net Asset Value per Share Increase6.3% rise to 40.80 cents
Loss attributable to Ordinary ShareholdersR24.9 million loss

EasyEquities Group Highlights:

EasyEquities, a subsidiary of Purple Group, showcased robust growth and client engagement:

MetricsFigures / Growth
EasyEquities Group Revenue Increase11.1% growth to R237.8 million
Registered Clients Growth18% increase to 2.06 million
Active Clients Growth17.5% increase to 897,940
Platform Assets Growth25.3% increase to R46.6 billion
Retail Inflows Decrease28.1% decrease to R5.90 billion
Institutional Inflows Increase169.9% increase to R5.2 billion
Cost of Service per Active Client Decrease10.0% decrease to R170
Loss before Adjustments and TaxR44.0 million loss

GT247.com Performance:

The subsidiary, GT247.com, experienced a revenue decrease of 34.5%, reaching R37.3 million. However, it managed a profit after tax of R2.4 million.

CEO’s Reflection and Strategic Moves:

Charles Savage, Purple Group’s CEO, reflected on the economic rollercoaster, acknowledging the challenges and emphasizing the company’s resilience. He highlighted strategic investments, expansion into Southeast Asia, and the importance of diversification.

Strategic Investments and Expansion:

Purple Group expanded into Southeast Asia with EasyEquities Philippines Inc. and a partnership with GCash, viewing these ventures as more than just growth opportunities. Despite challenges, the company is building regulatory relationships, strengthening ties, and engaging with the Filipino community.

Product Diversification and Innovation:

Purple Group showcased its commitment to innovation by introducing new products like EasyCredit, EasyProtect, and EasyBonds. The focus is on improving customer experience and addressing client needs.

Investment in Technology:

The company continues to invest significantly in technology to enhance operational efficiency, improve customer experience, and position itself for rapid scaling as market conditions improve.

Looking Ahead with Optimism:

The future looks promising for Purple Group as it plans to introduce three new products to the Easy brand family: EasyRetire, EasyTrader, and EasySubscriptions. The launch of the Thrive loyalty program aims to reward and incentivize good investor behavior.

Acknowledgments and Gratitude:

Charles Savage expressed gratitude to the dedicated team, loyal clients, strategic partners, and supportive shareholders. He emphasized the importance of their belief in the company’s vision, which has been crucial to its resilience, innovation, and success.


As Purple Group looks ahead with optimism, the company remains committed to building not just a company but a financial legacy for the people and countries it serves. The investments made during challenging times, particularly in technology, product development, market expansion, and efficiency, position Purple Group for a transformative and successful future.

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Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted: Email: lethabo@rateweb.co.za Twitter: @NtsoaneLethabo