Sanlam HEPS up 9% for first four months of financial year
Normalised headline earnings per share at Sanlam increased by 9% in the first four months of the present financial year to December, compared to the first four months in 2016, the company said on Wednesday. A relatively stronger investment market performance in 2017 supported investment return earned on the capital base. New business volumes of R71bn were down 4% compared to the same period in 2016. Overall net fund inflows were R12bn compared to R16bn in 2016. CEO Ian Kirk described the results as satisfactory in difficult operating environments in a number of countries, and a stronger rand negatively impacting the results of the group’s non-South African businesses. Low levels of business, investor and consumer confidence in SA continue to place severe pressure on lump-sum savings new business at Glacier, Sanlam Investments Retail, and Sanlam Private Wealth.
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