Loading...
See More

Liberty profit jumps 68%

Aug 04 2011 08:02
Reuters
Johannesburg - Liberty Holdings [JSE:LBH], Africa's third-largest life insurer by market value, posted a 68% rise in first-half earnings on Thursday as economic recovery led to more policies.

Liberty, majority owned by Standard Bank Group [JSE:SBK], said basic headline earnings per share totalled 440.2c in the six months to end-June, compared with 371.9c a year ago. Headline earnings, the main profit gauge in South Africa, exclude some one-time items.

Liberty warned that volatility in South Africa's investment market would likely affect returns.

The insurer swung to a profit a year ago after a recession led to lapses on policy payments.

Liberty's rival Sanlam [JSE:SLM] has warned that the business environment remains challenging and that it is unlikely to book strong earnings growth similar to those achieved in the latter part of 2010.

Liberty shares have gained 1% so far this year, compared with a 0.9% drop in Johannesburg's index of life insurance companies .
liberty holdings  |  standard bank group

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

We're talking about:

SMALL BUSINESS

Scenario planner Clem Sunter says he is as passionate about economic freedom as Julius Malema, but his bet is on entrepreneurs to open up the whole economy.
 

Money Clinic

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

Voting Booth

Introducing tablets in schools is:

Previous results · Suggest a vote

Loading...