Liberty Holdings swings into loss amid Covid-19 provisions
The group has established a pandemic reserve to deal with the fallout from Covid-19, but says death claims to date have been limited
05 August 2020 - 07:49
Financial services group Liberty Holdings swung into an almost R2.2bn loss in the six months to end-June, after establishing a pandemic reserve to deal with the fallout from Covid-19.
The group has put aside R3bn for the pandemic, reporting a normalised headline loss of R2.17bn, from headline earnings of R2bn previously. Normalised refers to the group adjusting for the valuation of its property interests, which it says better reflects economic reality...
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