Old Mutual looks at profit and sees more than double
Group forecasts annual earnings of between R6.52bn and R7.03bn as easing of lockdown restrictions boosted productivity across its operations
Old Mutual has advised shareholders to expect annual profit to have more than doubled when it publishes its annual results in mid-March, thanks to a strong recovery from the ravages of the Covid-19 pandemic.
The Cape Town-based insurance and investment group said in a trading statement on Wednesday that after-tax profit attributable to shareholders, as per International Financial Reporting Standards (IFRS), is expected to soar to between R6.52bn and R7.03bn for the year to end-December 2021. Basic earnings per share are also expected to jump more than 100%, to between 148c and 160c...
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