Purple's future never looked brighter; SE Asia expansion to trump SA growth story - CEO Savage

Posted on 11/16/2022

Charles Savage was back in the BizNews studio after the release of the Purple Group's full year earnings. In the interview with founder Alec Hogg, looking in his crystal ball Savage said the future has never been brighter despite it being a tricky time in the market for growth stocks, echoed by the demure movements in the group’s share price in spite of a stellar performance over the last 12 months. Noteworthy metrics from the annual report include a 50% increase in customers and the completion of 4 acquisitions, a feat not to be scoffed at coming from a relatively small team of operators. The team are pleased to have executed against their goals for the year and simply view investor’s subdued reactions as an indication of a tricky macro environment as opposed to doubts about future growth, especially when considering the intrinsic value that will be harvested from its recent investment in the Philippines, which Charles expects to be much bigger than its South African market. Considering that the team has come from a R20 million income statement 8 years ago, to a company of R2.5 billion today, it’s difficult to argue that investors won’t be richly rewarded by a global product offering and a sound strategy that is on track to realise local and international expansion. An exciting space to watch indeed.