Try our mobile app

General information

Sector: Financials

The company is available at Interactive Brokers

PSG Group Limited (JSE:PSG) is an investment holding company consisting of underlying investments that operate across a diverse range of industries including banking, education, financial services and food and related business, as well as early-stage investments in selected growth sectors.

Investment Strategy and Philosophy


  • Companies with uncomplicated business models operating in industries with attractive growth prospects and led by talented, hard-working and passionate people.
  • PSG believes in co-investing with management – management as owners are generally focused and dedicated to continuously grow their businesses.
  • A culture of good corporate governance is instilled at board level and is applicable to the entire organisation. It remains a cornerstone of the way PSG does business. Good corporate governance is not necessarily represented by set rules, policies or codes, committees or meetings. It is rather relevant, transparent, timely, accurate and succinct information provided to those charged with oversight who, by their nature, are trustworthy and ambitious to act in the best interests of the company.
  • PSG are long-term strategic investors with no predefined exit strategy.
  • PSG adds value by challenging management to innovate and grow their businesses, both organically and by means of acquisitions. PSG provides funding when needed.
  • A company can only grow when its customer base increases. A focus on client satisfaction thus remains vitally important for PSGs continued success.
  • Funding remains critically important and integral to what PSG does.


  • Good financial results growth rate 33.5% (average between last period year over year growth for revenue and Net Income), there is acceleration compared to average historical growth rates (0.5%)
  • Dividend yield for the last twelve months 0.0%
  • Share price is 184.5% higher than minimum and 34.7% lower than maximum for the last 3 years
  • The company is undervalued by P/E LTM multiple compared to target level (1.5x vs
    )
  • Fundamental value created in LTM (estimate)

Key Financials

Share price, ZAR:  (0.0%)64.01
Share price, USD: 3.44
Common stocks: 221 527 886
Dividend Yield:  0.0%
P/E LTM: 1.5x
Last revenue growth (y/y):  +71.5%
Last growth of Net Income (y/y):  -4.5%
Historical revenue growth:  -47.5%
Historical growth of Net Income:  +149.8%
Target P/E (hist percentile):
Fundamental value created in LTM:
P/E mutiple calculation
Market Cap ($m): 761
Net Profit ($m): 502
P/E LTM: 1.5x
Price to Book: 0.45x

Buy Sell

Revenue and Net Income

Semi-Annual values ($m)

Change (y/y)

Share price and dividends (Download history)

Share price

Payment ZAR per share

Multiple and potential

P / E

Potential dynamics

TechCentral Headlines

Consolidation in SA telecoms is inevitable – Michael Jordaan

Michael Jordaan, investor in wireless broadband upstart Rain, said on Tuesday that consolidation in South Africa’s telecoms market is inevitable.

2023-01-24 18:00 +02:00
by Duncan McLeod

JSE:MTN JSE:VOD JSE:AVI JSE:TKG JSE:PSG JSE:JSE

Etion to quit the JSE and wind up its operations

Technology company Etion has become the latest firm to announce plans to delist from JSE.

2022-11-29 11:39 +02:00
by Duncan McLeod

JSE:PSG JSE:JSE JSE:ETO

Reserve Bank outlines plans to regulate crypto in South Africa

The South African Reserve Bank is set to bring cryptocurrencies into the regulatory oversight of the Financial Sector Conduct Authority.

2022-07-13 12:43 +02:00
by Staff Reporter

JSE:PSG JSE:MPT JSE:ARH

MultiChoice yet to be formally notified of R63-billion Nigeria fine

One could be forgiven for thinking that the Nigerian authorities are acting opportunistically, if reports of a massive penalty by the Nigerian Federal Inland Revenue Service against MultiChoice are true.

2021-08-04 08:28 +02:00
by Adriaan Kruger

JSE:MTN JSE:MCG JSE:SPP JSE:PSG JSE:EMN JSE:HUG JSE:EMH JSE:ISA

PIC and Sekunjalo: a bizarre, value-destroying relationship

It turns out the relationship between former Public Investment Corp head Dan Matjila and Iqbal Survé’s Sekunjalo Group was as value-destroying as feared by most commentators.

2020-03-13 06:33 +02:00
by Ann Crotty

JSE:PSG JSE:JSE JSE:ISA

Reuters Headlines

China to close airspace north of Taiwan April 16-18 -sources

China is planning to close the airspace north of Taiwan from April 16 to 18, four sources with knowledge of the matter said, a move that could disrupt flights around the region.

2023-04-12

JSE:AVI JSE:PSG

South African dairy farmers eye carbon credits while curbing emissions

On South Africa`s Lancewood dairy farm, a GPS-guided tractor spreads cow manure across defined areas where tilling is banned and fertilizer used at a minimum, if at all.

2022-04-06

JSE:AVI JSE:PSG JSE:JSE JSE:MPT JSE:ARH JSE:ISA

S.Africa`s PSG Group to offload $1.2 bln stake in units to investors

* PSG will distribute shares in four listed firms to unlock value

2022-03-01

JSE:CPI JSE:PSG JSE:JSE JSE:COH JSE:SDO JSE:KAL JSE:HUG

Scandal-hit Steinhoff says will suffer more in 2019

Steinhoff International warned of the lingering damage from a massive accounting scandal after the South African retail group reported a 1.2 billion euro ($1.3 billion) annual loss, sending its volatile shares down 8 percent.

2019-06-19

JSE:PSG JSE:KAP JSE:SNH JSE:MPT

South Africa`s Steinhoff raises $332 million from KAP Industrial stake sale

Troubled South African retailer Steinhoff said on Wednesday it had raised 4.8 billion rand ($332 million) from the sale of its 26 percent stake in KAP Industrial to pay off debt and shore up its finances, sending its shares higher.

2019-03-27

JSE:PSG JSE:KAP

CORRECTED-UPDATE 1-Steinhoff to place up to 694 mln shares in KAP Industrial

Troubled South African retailer Steinhoff said on Tuesday it would place up to 694 million shares in KAP Industrial via an accelerated bookbuilding to raise cash to repay debt and shore up its finances.

2019-03-26

JSE:SBK JSE:INP JSE:INL JSE:AVI JSE:PSG JSE:KAP

UPDATE 1-South African rand dips on trade war jitters, stock rise

* Stocks led higher by financials (Adds latest prices, analyst quote)

2018-11-19

JSE:SLM JSE:ABG JSE:PSG JSE:NTC JSE:ARH JSE:ISA

More information for subscribed users:
detailed calculation of
Potential and Created Value,
website traffic data

Releases

2022-08-10
Results of the General Meeting held at 10:00 on 10 August 2022 relating to the PSG Group Restructuring
2022-08-03
PSG Group Restructuring: Update Announcement
2022-07-13
Dealing in securities by a director
2022-07-08
Distribution of Circular and Notice Of General Meeting
2022-06-29
Distribution of Annual Report and Notice of Annual General Meeting
2022-05-30
Broad-Based Black Economic Empowerment Act: Annual Compliance Report
2022-05-27
Publication Of Annual Financial Statements, No Change Statement And Details Of Annual General Meeting
2022-04-25
Financial Results For The Year Ended 28 February 2022
2022-04-25
Firm Intention Announcement Regarding The Value-Unlock Initiative and Withdrawal of Cautionary Announcement
2022-04-14
Trading Statement And Results Presentation
2022-04-13
Further Cautionary Announcement
2022-03-14
Acquisition Of Securities by Clients Of Allan Gray Proprietary Limited
2022-03-01
Change To Independent Joint JSE Sponsor
2022-03-01
Notice of Investor Presentation
2022-03-01
Detailed Cautionary Announcement Regarding the Proposed PSG Group Restructuring
2021-10-14
Unaudited Financial Results For The Six Months Ended 31 August 2021
2021-10-07
Trading Statement And Interim Results Presentation
2021-07-26
Finalisation Announcement in Respect of the Scheme and Confirmation of Final Scheme Consideration
2021-07-14
Waiver of Condition Precedent

SENS Announcements

2022-09-23
PSG Group Restructuring: Final Update Announcement
2022-09-16
PSG Group Restructuring: Final Scheme Consideration
2022-09-09
Closing Prices of the PSG Group Shares and the Unbundled Shares on the PSG Group Unbundling Record Date
2022-09-08
Apportionment of tax cost for SA income tax purposes and cash payment in respect of fractional entitlements
2022-08-25
Finalisation Announcement
2022-08-23
PSG Group Restructuring: Update Announcement
2022-08-10
Results of the General Meeting held at 10:00 on 10 August 2022 relating to the PSG Group Restructuring
2022-08-03
PSG Group Restructuring: Update Announcement
2022-07-13
Dealing in securities by a director
2022-07-08
Distribution of Circular and Notice Of General Meeting
2022-06-29
Distribution of Annual Report and Notice of Annual General Meeting
2022-05-30
Broad-Based Black Economic Empowerment Act: Annual Compliance Report
2022-05-27
Publication Of Annual Financial Statements, No Change Statement And Details Of Annual General Meeting