Old Mutual Share Discussion Threads

[knowing] 11/9/2018 09:11

Anyone buying for the divi?

[knowing] 10/9/2018 15:36

31/08/2018 7:56am
Dow Jones News

Old Mutual Lim. (LSE:OMU)
Historical Stock Chart
1 Month : From Aug 2018 to Sep 2018

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By Adam Clark


Old Mutual Ltd. (OMU.LN) said Friday that it will pay a special dividend, after reporting a slight increase in first-half profit amid tough market conditions in South Africa and Zimbabwe.

The African financial-services company said its adjusted headline earnings--which strip out certain exceptional items--rose 1% to 5.39 billion rand ($367.0 million) from the year-earlier half.

The company said it delivered the profit growth despite a weak economic environment in South Africa, and political uncertainty in Zimbabwe.

Old Mutual's net profit rose 42% to ZAR10.65 billion, driven by an exceptional accounting gain from the sale and distribution of shares in U.K. wealth-management business Quilter PLC (QLT.LN) in June.

The company declared a special dividend of 100 South African cents a share from excess capital. This comes on top of a normal interim dividend of 45 South African cents a share, representing 40% of adjusted headline earnings a share.

Old Mutual said its total funds under management rose 2% to ZAR1.1 trillion as of June 30, driven by net client cash flows of ZAR9.4 billion. Life-insurance sales, as measured by annual premium equivalent, rose 13% to ZAR5.81 billion.

[johnsoho] 08/8/2018 21:31

H1 Results seem pretty reasonable to me....comments on a postcard 🤗🤗🤗😆

07 August 2018

Old Mutual Limited

Incorporated in the Republic of South Africa

Registration number: 2017/235138/06

ISIN: ZAE000255360

JSE Share Code: OMU

NSX Share Code: OMM

("Old Mutual")

Ref 29/18

7 August 2018

NEDBANK GROUP - UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL RESULTS FOR THE 6 MONTHS ENDED 30 JUNE 2018

Nedbank Group Limited ("Nedbank Group"), the majority-owned South African banking subsidiary of Old Mutual Limited, released a trading statement today, 7 August 2018.

The following is the opening comments from Mike Brown, Chief Executive of the Nedbank Group's announcement.

"NEDBANK GROUP - UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL RESULTS FOR THE 6 MONTHS ENDED 30 JUNE 2018

Strong performance in a difficult environment

Nedbank Group delivered a strong performance in the first half of 2018, assisted by our share of associate income from ETI as it returned to profitability, while our managed operations delivered positive, but slower, earnings growth in line with our expectations. Headline earnings of R6,7bn increased 27,0% and ROE (excluding goodwill) improved to 18,4%. Slow revenue growth and a gradual increase in impairments were offset by good cost management. We maintained a strong balance sheet, as evident in our IFRS 9 fully phased-in CET1 ratio of 12,4% and the interim dividend per share increasing by 13,9%. Total assets exceeded R1 trillion for the first time.

Nedbank continues to make good progress in delivering market-leading client value propositions and digital innovations. This focus has enabled us to increase our total client base to over eight million for the first time, grow revenues and unlock operating efficiencies. In the second half of 2018 we look forward to the launch of more exciting innovations for clients. Our strategic enablers, including ongoing technology investments, our people, our culture and our brand, are creating a more client-focused, agile, competitive and digital Nedbank.

Given the strong growth in diluted headline earnings per share in the first half of 2018, together with expectations of a slowly improving economic outlook and ongoing delivery on our strategy, our guidance for growth in diluted headline earnings per share for 2018 remains unchanged, being in line with our medium-to-long-term target of greater than or equal to GDP plus CPI plus 5%.

Mike Brown

Chief Executive"

The full announcement can be found on the Nedbank website at www.nedbankgroup.co.za.

[johnsoho] 08/8/2018 18:13

!FOLLOWFEED
Thought we need a new thread since ‘OML’ now no longer exists....disappeared in June with the demerger of Quilter ltd (QLT)