RMI expects drop of up to 22% in normalised earnings
The owner of OUTsurance released the earnings guidance ahead of its annual results on Thursday
Rand Merchant Investment Holdings (RMI), the investment holding company that owns OUTsurance, has advised shareholders to expect a drop in normalised earnings when it publishes its annual results later this week.
The holding company, which began unbundling its stakes in Discovery and Momentum Metropolitan in 2021, said in a trading statement on Tuesday that normalised earnings for the year to end-June 2022 were expected to fall by between 12% and 22% to a range of between 180.5c and 203.6c. RMI regards normalised earnings, which excludes nonoperational items and accounting anomalies, as the key indicator of the group’s operational performance...
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