Trustco slips more than 30 positions on the JSE Top 100


Posted December 2, 2020 by associate14

Trustco Group Holdings has slipped more than 30 positions amongst the top performing companies on the Johannesburg Stock Exchange (JSE).
 
Windhoek, Namibia., December 2, 2020 -- Trustco Group Holdings has slipped more than 30 positions amongst the top performing companies on the Johannesburg Stock Exchange (JSE). The Sunday Times Top 100 Companies in South Africa were announced at an hour-long online event, published by BCX. The event was presented online as a result of social-distancing initiatives implemented by the South African government in the wake of the COVID-19 pandemic.

Trustco’s Deputy CEO, Quinton Z van Rooyen, said that, “Trustco always strives for maximum value creation for our shareholders, and even though the group has performed better on the JSE during previous years, we are still proud to be the only Namibian company awarded on this platform. While this year may have had its fair share of setbacks, we are confident that we in future will deliver the returns on investment our shareholders are accustomed to.”

Trustco performed significantly better at these awards in previous years. The group cemented its reputation of excellence with consistent rankings in the Top Ten by being second in 2015, with top ten rankings in 2016 and 2017. Trustco Group also belongs to a small set of elites that have achieved Royal Status, a mark of consistent achievement only awarded to companies who have placed in a Top 20 position for three consecutive years.

This year Trustco Group ranked number 37 out of the more than 400 JSE listed companies under consideration. The group has continued in its 2020 growth strategy after adjusting to the economic consequences of the global pandemic. In keeping with its commitment to the economic welfare of all stakeholders, its focus on securing long-term sustainable growth in value continued unabated. The group responded to the extremely challenging times with initiatives such as securing new funding lines and restructuring its current debt on favourable terms.

To be considered for inclusion in the Top 100 companies list, these listed businesses had to have held a minimum market capitalization of R 5 billion as at 31 August 2020. The winners were determined by the highest returns for shareholders based on their compound annual growth rate (CAGR) over the preceding five-year period. Also taken into account is some subjective criteria, such as compliance with good governance as well as ethical conduct.

“With thirteen out of the current Top 20 companies in this year’s Sunday Times Top 100 Companies operating in the mining industry, we remain optimistic about the future growth of our Resources segment,” Dr Quinton van Rooyen shared. “It remains clear that our current growth strategy is poised to deliver great value to our shareholders in the not too distant future. Even a lower share price brings about opportunity.”

Trustco Group Holdings’ strategy is based on long-term value creation, viewing short-term hurdles as a catalyst to drive success. The diversified nature of the group and its emphasis on strategies that create long-term value has ensured that the group consistently ranks on the Sunday Times Top 100 list, albeit a bit lower these days.

Contact:
Neville Basson
Trustco
PO Box 11363
Windhoek, Namibia
+264 275 4501
[email protected]
https://www.tgh.na
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Contact Email [email protected]
Issued By Neville Basson
Phone +264 275 4501
Business Address PO Box 11363
Country Namibia
Categories Business
Last Updated December 2, 2020