Low-cost investment platform EasyEquities now has almost 1 million accounts, with R36.5 billion held in those accounts.
Its revenue for the six months to end-February increased by 28% to R108.7 million, while the business reported a profit after tax of R23.3 million – 4% higher than the previous year.
EasyEquities’ operating cost per invested client fell by almost 25% to R80 per client, and its acquisition cost and onboarding cost per new EasyEquities client amounted to R47.76 and R6.77, compared to R61.53 and R9.43, respectively, in the previous year.“
"EasyEquities’ platform capability caters to the evolving needs of all customer types, recognising that today’s managed investor is tomorrow’s day trader, the curious 20 something crypto trader, next decade’s advised passive parent,” the Purple Group, which owns EasyEquities, said in its results statement.
EasyEquities has partnerships with Satrix, Capitec Bank, Discovery Bank, Telkom and Bidvest Bank.
Purple Group, which also owns the trading platform GT247.com and Emperor Asset Managed, reported a 92% increase in headline earnings per share.
It also reported that GT247.com's revenue almost doubled to R25.9 million from the same period in the previous year.