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OMU Old Mutual Limited

47.50
0.05 (0.11%)
03 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Old Mutual Limited LSE:OMU London Ordinary Share ZAE000255360 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.05 0.11% 47.50 47.15 47.55 48.50 47.05 48.50 171,427 16:29:56
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Ins Agents,brokers & Service 196.4B 7.07B 1.5005 0.35 2.5B

Old Mutual 2018 Net Profit Rose After Separation

11/03/2019 6:47am

Dow Jones News


Old Mutual (LSE:OMU)
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From May 2019 to May 2024

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   By Adria Calatayud 
 

Old Mutual Ltd. (OMU.LN) said Monday that net profit rose sharply in 2018 after completing the managed separation of the former financial-services giant Old Mutual PLC, but that tough market conditions hit adjusted earnings.

The African financial-services group said it made a net profit of 36.57 billion South African rand ($2.53 billion) last year compared with ZAR14.37 billion in 2017. Adjusted headline earnings--which strip out certain exceptional items--fell to ZAE11.52 billion in 2018 from ZAE12.95 billion in 2017, Old Mutual said.

Revenue was up 8.9% at ZAR78.73 billion in 2018 compared with ZAR72.32 billion a year earlier, the company said.

The board declared a final dividend of 72 South African cents. Old Mutual said it plans to return ZAR5.6 billion to shareholders this year via a final dividend and share buyback, having returned ZAR45.9 billion a year earlier.

The unbundling of Nedbank Group Ltd. (NED.JO) in October last year marked the completion of the breakup of the former Old Mutual PLC into four businesses, which was initiated in 2016.

 

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

 

(END) Dow Jones Newswires

March 11, 2019 02:32 ET (06:32 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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