Peregrine Holdings reports revenue increase despite tough market conditions
Peregrine CEO Robert Katz says that he doesn't expect the economy to recover in the next 12 months.
On 23 June, wealth and asset manager Peregrine Holdings released its annual results for the year ended 31 March, stating that the bulk of its year was punctuated by uncertainty on global markets led by factors such as the US and China trade dispute, with Covid-19 adding to this negative sentiment.
Peregrine CEO and CFO Robert Katz also says that he doesn’t expect the economy to recover in the next 12 months as the country faces one of its biggest economic disruptions as a result of Covid-19.
“We’ve got the government under pressure in terms of budget, we’ve got the South African economy under severe pressure, we’ve got the world economy under severe pressure, and on top of all of that we’ve got Covid-19,” he says.
Despite tough market conditions, the group reported a core operating revenue increase of 5 percent and a continued increase in headline earnings per share by 9 percent to 166.4 cents.