Headline earnings for the year ended December are expected to be 10%-30% higher
05 March 2025 - 09:37
by Jacqueline Mackenzie
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Old Mutual's office in Sandton Johannesburg. Picture: FREDDY MAVUNDA/FINANCIAL TIMES
Financial services group Old Mutual expects annual headline earnings to be as much as 30% higher thanks to strong performances from Old Mutual Insure, Wealth Management and Old Mutual Investments.
Headline earnings for the year ended December are expected to be 10%-30% higher at R8.118bn to R9.594bn, while headline earnings per share (HEPS) are expected to be 13%-33% higher at 187c-220.1c, the group said in a statement on Wednesday.
Results from operations, which is Old Mutual’s primary measure of the operating business performance of the group's segments, are expected to be in a range of R7.842bn to R9.511bn from R8.343bn a year ago.
Adjusted headline earnings, the group’s primary profit metric, is expected to be 4%-24% higher.
“We delivered solid results from operations driven by strong performances in Old Mutual Insure, Wealth Management and Old Mutual Investments, partially offset by lower life profits in Personal Finance as well as our investment in OM Bank,” the group said.
Adjusted headline earnings growth was bolstered by increased shareholder investment returns.
In the prior year, headline earnings included one-off hedging losses arising from the IFRS 17 transition, which were excluded from adjusted headline earnings, it added.
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Three units boost Old Mutual’s earnings
Headline earnings for the year ended December are expected to be 10%-30% higher
Financial services group Old Mutual expects annual headline earnings to be as much as 30% higher thanks to strong performances from Old Mutual Insure, Wealth Management and Old Mutual Investments.
Headline earnings for the year ended December are expected to be 10%-30% higher at R8.118bn to R9.594bn, while headline earnings per share (HEPS) are expected to be 13%-33% higher at 187c-220.1c, the group said in a statement on Wednesday.
Results from operations, which is Old Mutual’s primary measure of the operating business performance of the group's segments, are expected to be in a range of R7.842bn to R9.511bn from R8.343bn a year ago.
Adjusted headline earnings, the group’s primary profit metric, is expected to be 4%-24% higher.
“We delivered solid results from operations driven by strong performances in Old Mutual Insure, Wealth Management and Old Mutual Investments, partially offset by lower life profits in Personal Finance as well as our investment in OM Bank,” the group said.
Adjusted headline earnings growth was bolstered by increased shareholder investment returns.
In the prior year, headline earnings included one-off hedging losses arising from the IFRS 17 transition, which were excluded from adjusted headline earnings, it added.
Old Mutual will release results on March 18.
mackenziej@arena.africa
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