Momentum warns of tough outlook as market volatility costs it R1.2bn
The effects of Covid-19 on global financial markets have pushed the group into a third-quarter loss
21 May 2020 - 07:47
Financial services group Momentum Metropolitan Holdings says the battering global markets has taken from the Covid-19 pandemic cost it R1.2bn and pushed the group into a loss in its third quarter, with the group bracing for further pressure on SA consumers in the months ahead.
The effect of the pandemic on global markets offset a good operational performance, with the group saying it saw a normalised headline loss of R284m in the quarter to end-March...
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