Purple Group hits its stride as scale kicks in

Interim results for the six months ended 28 February 2026 show a business accelerating, with the Easy Group delivering standout growth and the broader platform beginning to fire on all cylinders.

Purple Group’s latest interim results mark a clear step-change. This is no longer a business proving its model, it is a business scaling it. And the numbers are starting to reflect that in a big way. Years of investment are translating into real operating leverage, with revenue growth pulling decisively ahead of costs and driving strong bottom-line momentum.

For the six-month period:

• Group revenue climbed to R258.5 million, up 8.8%
• Operating expenses were tightly controlled, rising just 0.5% to R161.1 million. (That gap tells the story.)
• Profit before tax surged 33.3% to R78.7 million
• Earnings per share rose 21.0%
• Net asset value per share increased 14.9%

Easy Group accelerating

At the heart of this performance is the Easy Group, which continues to power the business forward. Here, the growth is not just strong, it is accelerating. Revenue increased by 18.5% while costs edged up only 1.6%, translating into a 66.3% jump in profit before tax. Scale is coming through clearly in the numbers. Active clients reached 1.24 million, while total client assets surged to R94.9 billion, up 41.2% year on year.

Charles Savage, CEO of Purple Group, describes this as a defining moment in the company’s journey.

“The numbers are doing the talking,” he says. “The question coming into the year was simple: could we compound off a record FY2025? The answer is now clear.”

A key theme running through the results is the emergence of operating leverage as a real and powerful driver of performance.

“Operating leverage is not a theory. It is extending,” Charles says, noting that revenue grew 11 times faster than costs during the period.

Clicking at scale

What sits behind this is a model that is starting to click at scale. Efficient client acquisition, strong retention, growing balances and increasing product usage are reinforcing one another. The flywheel is turning, and it is gaining speed.

Client behaviour is central to this momentum. The platform is not just attracting users, it is building investors.

“Clients arrive, stay and keep building,” Charles says.

Retail inflows jumped to R8.0 billion, while net inflows as a percentage of client assets increased, pointing to deeper engagement and sustained participation. Growth is increasingly being driven by what existing clients do over time, not just by how many new ones join.

The quality of revenue is also improving. While activity-based income remains strong, recurring, asset-linked revenue now makes up the majority of Easy Group earnings. This shift adds resilience, smoothing out market cycles and creating greater predictability in future performance.

Easy products building momentum

Beyond the core platform, there is momentum across multiple fronts. EasyTrader continues to scale rapidly despite a temporary hedging loss, with strong growth in clients, trading volumes and revenue. In asset management, Easy Asset Management and EasyETFs are gaining traction quickly, with EasyETFs surpassing R2 billion in assets under management in under 18 months, a clear signal of demand for simpler, more accessible investment products.

Innovation is another major driver. The launch of ZARU, a rand-backed stablecoin, positions the group at the intersection of traditional finance and the digital economy. At the same time, artificial intelligence is becoming deeply embedded in the business.

“Our future is AI,” Charles says, pointing to significant productivity gains already achieved and the potential to transform client engagement, service and platform development.

International expansion adds further upside. The rollout of EasyEquities in the Philippines, in partnership with GCash, opens the door to a vast new market. While still early, the ambition is significant, with a target of 500,000 active users by 2027. Crucially, this opportunity is not yet reflected in current earnings, making it a powerful source of future growth.

Looking ahead, the environment may be less supportive, with increased volatility and a more neutral interest rate outlook. But the business is not reliant on tailwinds.

“We are not planning for a better environment, nor are we dependent on it,” Charles says.

The focus remains on execution, platform strength and client behaviour, the factors that have driven performance to date.

The message coming through these results is clear. Purple Group is no longer just growing. It is accelerating, with scale starting to show up meaningfully in the numbers and a long runway still ahead.

Or, as Charles puts it: “We build wherever we are.”

The full results are available at https://www.purplegroup.co.za/our-financials.html.