Old Mutual Limited has delivered a solid set of financial results, reporting growth in sales and earnings, with an interim dividend declared of 25 cents per share.
On Tuesday, 31 August 2021, Old Mutual Limited CEO, Iain Williamson reported that the company delivered a solid set of financial results, with growth in sales and earnings, for the six months ended 30 June 2021. This is despite the tough economic conditions.
Results from operations (RFO) are reported to have shown solid performance at R2.2 billion, growing by 42 percent from the same period in 2020. RFO excluding the impact of the pandemic increased by 8 percent compared to the previous year. This is said to have been driven by a strong performance in the Mass and Foundation Cluster, and resilient performances from personal finance and the rest of the African continent. Furthermore, adjusted headline earnings (AHE) grew by 70 percent to R2.9 billion. This was due to strong growth in RFO, higher shareholder investment returns, and higher income from associates. Results on net asset value (RoNAV) were reported to have improved from 5.2 percent to 9 percent, given the higher AHE.
The group also declared an interim dividend of 25 cents per share. Williamson also stated, “I am extremely proud of the progress that our efforts to rectify, simplify and amplify our business have produced. These have enabled us to strengthen our position in the market.”
