Liberty failed to ease concerns about the future of the 50-year-old insurer founded by business doyen Donald Gordon at its results presentation on Friday. Faced by a weakening economy and internal management problems, the group controlled by Standard Bank group has experienced a drop in share price of more than a third from its peak almost two years ago. The insurer reported a 38% fall in annual earnings. Better communication of the existing strategy would go a long way towards boosting investor confidence, said Jason Weir, a trader at BayHill capital. "They are taking steps for the longer term, but may need to start focusing on the immediate future more thoroughly than originally set out, given the slower growth conditions prevailing in the global market."
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