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Research Tree provides access to ongoing research coverage, media content and regulatory news on OLD MUTUAL PLC. We currently have 7 research reports from 2 professional analysts.

Market Cap
52 Week
Date Source Announcement
21Apr17 12:56 RNS Holding(s) in Company
20Apr17 17:18 RNS Holding(s) in Company
19Apr17 16:53 RNS Holding(s) in Company
19Apr17 08:47 RNS Holding(s) in Company
13Apr17 13:30 RNS Holding(s) in Company
11Apr17 16:25 RNS Director/PDMR Shareholding
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2018, independence year

  • 28 Mar 17

Old Mutual’s FY 16 gross sales stood at £31.7bn, up 3% at CER (up 2% as reported), and adjusted operating profit (AOP) increased by 11% to £1.6bn, stable relative to 2015. Old Mutual Emerging Markets (OMEM) figures were positive. Gross sales declined by 1% to R213bn. In South Africa, gross sales declined by 7.6% to R155bn but AOP increased by 1.2% to R10.5bn. The Rest of Africa recorded a 6.5% increase in gross sales to R19bn and a 17% improvement in profits to R1.6bn. In Asia & Latin America, profits were up 42.9% to R626m. Nedbank’s net interest income and non-interest revenues were up 10.6% and 8.1% to R26.4bn and R23.5bn, respectively. The Loans and advances increased by 3.7% to R707.1bn. Deposits grew by 4.9% to R761.5bn, while total liabilities rose by 4.4% to R884.3bn. The Tier 1 ratio improved to 13%. The efficiency ratio stood at 56.9% vs. 56.1% in 2015. AOP increased by 8.1% to R15.9bn but the IFRS profit after tax attributable to equity holders of Old Mutual decreased by 7% to R5.6bn. Old Mutual Wealth (OMW) posted sales 5% higher relative to 2015 at £21.1bn. Gross sales in Old Mutual Global Investors (OMGI) increased by 19%. UK Platform gross sales, of which 16% were generated via intrinsic advisers, increased by 4% yoy. Pension sales in the UK have performed well (+22% yoy). Costs were up 21% to £564m. OMW’s AOP declined by 15% to £260m and IFRS post-tax result stood at £-4m. FuM were up 18% to £135.5bn. Net Client Cash Flows (NCCF) decreased by 25% yoy to £5.2bn. Concerning Institutional Asset Management, Old Mutual Asset Managemeent (OMAM) recorded a 12% increase in profits to £104m. AuM reached $240.4bn, up 13.2% year-on-year. A second interim dividend has been declared for 2016 of 3.39p per share. Together with the first interim dividend, this represents a total dividend for the year of 6.06p per share.

Breakfast Today

  • 12 Aug 16

"Europe's opening is expected to be pushed and pulled in different directions as investors contemplate contrasting overnight news from some of the world's major markets. Weighing up higher equity closes across both the US and Asia, together with the hint from Saudi Arabia, the world's largest producer and OPEC's opinion leader, of reviving the concept of coordinating crude output with other countries to rebalance supply, London is expected to open modestly firmer with the FTSE-100 rising around 5 points in opening trade. Traders have, of course, heard this before and OPEC's recent inability to effectively control its own members leaves them sceptical that obvious global oversupply can be tamed any time soon. Nevertheless, the story was enough to tempt some to close out bear positions and boosted confidence in the US where energy and consumer stocks drove all three principal indices to concurrent new record closes for the first time since 1999. Asia found this optimism infectious, with similar modest gains across the board, despite China's National Bureau of Statistics releasing the latest in a long run of disappointing industrial output figures, this time showing July annual growth down to just 6.0% from 6.2% in June. While this figure was below consensus expectations, affected primarily by slowing in the hitherto booming housing market, others took heart that monthly production actually rose by 0.52% while also anticipating yet further measure from the PBOC to stimulate its flagging economy. Macroeconomic date due this morning includes UK Construction and German GDP data, while later this afternoon expect US Retail Sales numbers to be released. There are no important UK corporates due to provide earnings updates today, although markets will be keeping an eye out for any further updates regarding the apparent escalation of tensions in the Ukraine following Russia's decision to increase security measures in the annexed territory of Crimea." - Barry Gibb, Research Analyst

New priority: prepare the bride

  • 11 Mar 16

Gross sales stood at £31.8bn, up 25% at CER (up 21% as reported) and AOP increased by 11% to £1.6bn (+4% as reported). Old Mutual Emerging Markets (OMEM) figures were positive, but quite negatively impacted by FX movements. Gross sales rose by 17% to R215bn (£11bn, +7% yoy). In South Africa, gross sales surged by 21% to R162bn due to excellent asset management flows in OMIG (best NCCF performance in the past 12 years at R7.3bn), unit trust flows in Retail Affluent and two large deals in Corporate in H2 15. The Rest of Africa recorded a 32% increase in gross sales to R15bn and a 31% improvement in profits to R1.4bn. In Asia & Latin America, profits were up marginally due to lesser new business strain from bank channel sales and one-off realised investment gains in Asia, and lower profits in Latin America. Nedbank’s net interest income and non-interest revenues were up 4% and 7% to R23.8bn and R21.7bn, respectively. Old Mutual Wealth produced a good performance with sales up 30% to £20.8bn and profits up 35% to £307m yoy. FuM were up 27% to £104.4bn. NCCF stood at £6.9bn, a decrease of 86% yoy. Concerning Institutional Asset Management, OMAM had a positive year with profits up 9% to $229m, including an exceptional performance fee profit of $19m. FUM declined by 4% to $212.4bn. A second interim dividend has been declared for 2015 of 6.25p per share. Together with the first interim dividend, this represents a total dividend for the year of 8.9p per share. Management has also confirmed the information revealed by Sky News about an audacious break-up plan. The insurer is working on a plan to split itself into standalone companies comprising its stake in Nedbank, its wealth unit, its emerging markets operation and its institutional asset management business. Old Mutual said that separation is expected to be materially completed by the end of 2018.