Harare - Old Mutual Zimbabwe, owned by Old Mutual [JSE:OML], posted a 6% growth in funds under management for the half-year ended June 30 2014.
The group is now in charge of US$1.7bn worth of funds with the growth being driven by a 50% growth in net client cash flow to $62.2m.
Adjusted operating profit for the period, however, grew by only 2% to $32.4m reflecting the country's difficult operating environment.
Management said the constrained operating environment in Zimbabwe is likely to continue.
The group however says it is well positioned to defend its market share and will also explore new growth areas, such as the informal market and small and medium enterprises.
Rand - Dollar
18.94
-0.2%
Rand - Pound
23.91
-0.1%
Rand - Euro
20.43
+0.2%
Rand - Aus dollar
12.34
+0.1%
Rand - Yen
0.13
-0.2%
Platinum
910.50
+1.5%
Palladium
1,011.50
+1.0%
Gold
2,221.35
+1.2%
Silver
24.87
+0.9%
Brent Crude
86.09
-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.8%
Resource 10
57,251
+2.8%
Industrial 25
103,936
+0.6%
Financial 15
16,502
-0.1%
All JSE data delayed by at least 15 minutes
Government tenders
Find public sector tender opportunities in South Africa here.
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders