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Liberty earnings up 43%

Aug 02 2012 08:40 Reuters

Company Data

LIBERTY HOLDINGS LIMITED [JSE:LBH]

Last traded 130.46
Change 0.96
% Change 0.01
Cumulative volume 205740
Market cap 37.34bn

Last Updated: 24/07/2014 at 04:24. Prices are delayed by 15 minutes. Source: McGregor BFA

STANDARD BANK GROUP LIMITED [JSE:SBK]

Last traded 147.29
Change 0.74
% Change 0.00
Cumulative volume 2003673
Market cap 238.35bn

Last Updated: 24/07/2014 at 04:28. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - South Africa’s Liberty Holdings [JSE:LBH] posted an expected 43% rise in first-half earnings on Thursday as Africa’s third-largest life insurer by market value wrote more premiums and its investment portfolio yielded better returns.

Liberty, majority owned by South Africa’s Standard Bank [JSE:SBK], said basic earnings per share totalled 632.7 cents in the six months to end-June, compared with 443c a year ago.

The company announced a dividend per share of 192c from 182c previously.
 
The company flagged last month that earnings would be between 570c and 650c per share.
 
Liberty said insurance sales rose 22% to R2.7bn while the asset management business saw R5.4bn of net inflows.

Its assets under management grew nearly 8% to R484bn ($58.55bn) the investment portfolio saw a gross return of 6.4%.

Liberty shares have gained 25% so far this year, compared with a 36% rise in Johannesburg’s index of life insurance companies.

Standard Bank is due to report its results later this month.

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standard bank  |  insurance  |  earnings
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