Quilter withdraws guidance as Covid-19 batters markets
Due to lower revenues company no longer expects to achieve a 27% operating margin
21 April 2020 - 09:45
Old Mutual’s former wealth manager, Quilter, has pulled its profit forecasts, joining a host of companies in retracting their guidance after the Covid-19 pandemic sent global markets into a tailspin and restricted economic activity.
Quilter, listed in London and Johannesburg, is in the midst of remodelling itself as one the UK’s go-to shepherds of the super-rich’s money. It was hived off from Old Mutual. in a four-way break-up of the former financial services conglomerate in which it also sold control of lender Nedbank...
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