Sygnia shares hit a 52-week high on robust results

The share price of specialist financial services and asset management group Sygnia Limited hit a 52-week high on the JSE on Tuesday, after it reported a 31.5% surge in half-year profit and a robust financial performance in terms of other key metrics.

Sygnia closed almost 4% up at R19 a share, after touching an intraday high R19.50.

 

The group’s revenue for the six-months ending 31 March 2022 was 13.4% up, at R397.4 million, compared to its corresponding period. This contributed to profit after tax of R139.1 million (31 March 2021: R105.8 million).

Sygnia noted in its Sens results statement that headline earnings per share for the half-year came in at 92.6 cents (31 March 2021: 74.8c), up 23.8%.

Read: Sygnia performs despite ‘turbulent’ economic environment

It reported diluted headline earnings per share of 89.9c (31 March 2021: 72.8 cents), up 23.5%.

Sygnia said assets under management and administration totalled R295.3 billion at the end of the half-year, up 6.1% compared to its HY2021 (R278.3 billion).

The Cape Town- headquartered group, which was started by Magda Wierzycka, declared an interim dividend per share of 80c. This is 25c a share higher than its corresponding half year (55c).

“A gross dividend of 80 cents per share has been declared on 6 June 2022 out of retained income, resulting in a net dividend of 64 cents per share for shareholders after dividends tax,” it said.