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| Introduction |
The Peregrine group has produced a highly satisfactory set of results for the year under review, notwithstanding the range of
business conditions, market fluctuations and changes in political and economic sentiment experienced over the period. The year
was characterised by two distinctly different halves, with the macro environment deteriorating markedly during the second half
and more particularly during the latter part thereof.
Peregrine has evolved into a diversified group of focused underlying subsidiaries, resulting in compensating and complementary performances at different times during the year. Headline earnings increased by 44% to R462.3 million, with earnings attributable to ordinary shareholders increasing by 25% to R467.7 million. |
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| Features for the year include: |
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The record performance delivered by Peregrine Securities in market conditions underpinned by high levels of volatility and large volumes traded; |
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A successful period of activity for the group’s investment banking activities; |
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A highly satisfactory performance from the group’s private client wealth management business, Citadel with annual new business inflows exceeding R2.4 billion for the first time and the business posting record levels of profitability; |
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A 29% increase in group assets under management to R43.3 billion; |
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The annual dividend being increased by 24% to 56 cents per share. |
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