WATCH: How the Covid-19 fallout weighed on Alexander Forbes
Alexander Forbes CEO Dawie de Villers talks to Business Day TV about the reason retirement savings are under pressure in SA
04 December 2020 - 07:27
byBusiness Day TV
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Alexander Forbes CEO Dawie de Villiers. Picture: FREDDY MAVUNDA
Alexander Forbes is feeling the pinch of Covid-19-related business closures, salary cuts, payment holidays and retrenchments.
The financial services group’s active member base shrunk by 2% during its interim period, with the company losing R3bn from active members belonging to retirement funds.
Headline earnings per share for total operations plunged by 41% and the company says it expects its top line to be under pressure for the next 18-24 months.
Nevertheless, the group declared a half-year dividend.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
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WATCH: How the Covid-19 fallout weighed on Alexander Forbes
Alexander Forbes CEO Dawie de Villers talks to Business Day TV about the reason retirement savings are under pressure in SA
Alexander Forbes is feeling the pinch of Covid-19-related business closures, salary cuts, payment holidays and retrenchments.
The financial services group’s active member base shrunk by 2% during its interim period, with the company losing R3bn from active members belonging to retirement funds.
Headline earnings per share for total operations plunged by 41% and the company says it expects its top line to be under pressure for the next 18-24 months.
Nevertheless, the group declared a half-year dividend.
Business Day TV spoke to Alexander Forbes CEO Dawie de Villiers for more insight.
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