• 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

  • Rich getting richer

    Economists differ on how to tackle the chasm between rich and poor, says Leopold Scholtz.

Loading...
See More

Abil banks 18% profit, ups dividend

Nov 19 2012 08:48 Reuters

Related Articles

Moody’s downgrades SA

Banks to review clients' indebtedness

Consumers lie to get loans

Unsecured lending surges to R381bn

Consumers owe more than R1 trillion

South Africans borrow to buy food

 
Johannesburg - African Bank Investments [JSE:ABL] reported an 18% rise in annual profit on Monday that missed market expectations, a sign that demand for unsecured lending could be cooling.

The mass-market lender said diluted headline earnings per share totalled 342.5 cents in the year to end- September, compared with 291c a year earlier.

A poll of 12 analysts had expected earnings to increase 25% to 362c, according to Thomson Reuters data.

Headline EPS, which excludes some one-time and financial items, is the main measure of profit in South Africa.

The company said it increased dividends by 5% to 195c, higher than the 183c expected by in the poll of analysts.

Interest income rose 36% to R9.9bn and non-interest income rose 12% to R3.3bn.

Abil shares are down 13% this year, compared with over 14% growth by Johannesburg Top-40 index.

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

Top 10 richest musicians of all time

Check out the gallery to find out who they are!

 
 

Luxury living

Seven of the most expensive children's toys ever made
5 millionaires turned murderers
The youngest billionaires in the world and how they made it
Watch: Flying first class has never been this luxurious!

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote

Loading...