Old Mutual warns of profit drop after Nedbank unbundling
Headline earnings per share could fall by a quarter due amid tough economic conditions in SA
05 March 2020 - 11:20
Insurance group Old Mutual said on Thursday profits for its year to end-December could fall by a quarter, due to SA’s tough economic environment and the unbundling of its majority shareholding in Nedbank.
Headline earnings per share are expected to fall between 22% and 25% compared to the prior period’s 306.9c. Headline earnings per share is a widely used profit metric in SA and strips out one-off items, such as writedowns...
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