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Local News and Market Update: Sanral's total liabilities exceed R140 billion, and more.

Local News and Market Update: Sanral’s total liabilities exceed R140 billion, and more

PSG Konsult continues to grow

Financial planning and wealth management firm PSG Konsult reported that profits for the six months to the end of August 2021 were up 23% compared to the first half of the previous financial year. More importantly, management indicated that earnings per share (EPS) were 30% higher compared to 2019, before Covid-19 hit. This means PSG Konsult has continued its decade-long track record of growing earnings per share at 15% to 20% per year. Chief executive Francois Gouws says all three of its businesses – PSG Wealth, PSG Asset Management and PSG Insure – delivered growth in revenue and profit during the period despite the challenging operating environment.

Sanral’s total liabilities exceed R140 billion

The South African National Roads Agency (Sanral) has released its latest integrated annual report (368 pages in total) for the year ended 31 March 2021, which shows that total liabilities amount to a staggering R140,4 billion (2020: R130,6 billion). Sanral is not only facing increasing objections to paying tolls, but also mounting liabilities. Cabinet has been tasked with making a decision on the future of the e-tolling system in Gauteng. You would think that the biggest liability would be the debt, which stands at R45.9 billion (2020: R47.8 billion). But no, there is a liability that is classified as. ‘Deferred income’, which at the end of the financial year amounts to R79 billion (2020: R68 billion), which is 56.3% of the total liability (2020: 52.1%).

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