EasyEquities owner still confident despite record slump

Purple Group, the owner of trading platform EasyEquities, is confident about its long-term prospects, even after economic stress on its client and a deteriorating economy has prompted a slump in trading values to record lows.

Group revenue rose almost 7% to R146 million in the company's six months to end February, it said on Monday, but it swung into a R10 million loss, from earnings of more than R17 million previously. Client inflows of R2.9 billion were down more than a third, with trading, relative to assets on its platform, almost halving.