Old Mutual posted H1 18 results from operations of R4,848m, up 7% yoy. The Mass and Foundation Cluster is the cornerstone of the group’s profitability, representing 31.6% of the results from operations. The disappointment came from the Personal Finance segment, which recorded a 34% drop in its earnings. The insurer announced an extra dividend of 100c/share after the sale of Quilter, in addition to an interim dividend of 45c. The target of a cost reduction of R1bn by 2019 was confirmed.<
31 Aug 2018
Two pieces of good news: super dividend and cost efficiency
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Two pieces of good news: super dividend and cost efficiency
Old Mutual Ltd. (OMU:LON) | 41.7 -0.4 (-2.2%) | Mkt Cap: 1,999m
- Published:
31 Aug 2018 -
Author:
Bassem Neifer -
Pages:
3
Old Mutual posted H1 18 results from operations of R4,848m, up 7% yoy. The Mass and Foundation Cluster is the cornerstone of the group’s profitability, representing 31.6% of the results from operations. The disappointment came from the Personal Finance segment, which recorded a 34% drop in its earnings. The insurer announced an extra dividend of 100c/share after the sale of Quilter, in addition to an interim dividend of 45c. The target of a cost reduction of R1bn by 2019 was confirmed.<