Momentum flags economic risks but stands by new strategy
The financial services company says if the economic outlook remains pedestrian, ‘we are likely to achieve the lower end of our target range’
04 September 2019 - 08:19
SA’s fifth-largest insurer, Momentum Metropolitan Holdings, reported an almost two-third jump in earnings for the year to end-June, but warned that SA’s weak economic environment posed a risk to its new focus on increasing its revenue.
Normalised headline earnings, the company’s main measure, were up 54% to R3.1bn to end-June, while diluted headline earnings per share (HEPS) jumped 61% to R202.5c, bolstered by a R2bn share buyback programme in November and solid underwriting results across the group...
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