Newly-listed financial service company, Kagisano Group Holdings Limited, today published a trading update notifying investors that its earnings per share for the year ended 31st August 2007 are likely to be 20% to 35% ahead of the previous year.
CEO, Eugene van Niekerk, says trading conditions are extremely buoyant at the moment. He says the improved results are a consequence of the increased number of loans advanced by Kagisano and an expansion in the number of retail outlets serving its customer base.
Kagisanos core business is the provision of small, medium term loans but it also has offerings in insurance, employee benefits and cellular telephone contracts. It has a rapidly expanding branch network of some 130 outlets country wide but it planning to expand this to closer to 170 within a year.
Van Niekerk says he’s confident that Kagisano is on track to meet its earnings forecasts for 2008 and 2009.
Article provided by:FAnews