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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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