Alexander Forbes reports higher profits

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CorporateBusiness

Alexander Forbes Equity Holdings said on Wednesday that its headline earnings per linked share for the full-year ended March 2012 rose 11% to 139c per share‚ while the headline loss per preference share widened to 10c per preference share from one cent in the previous period.

Alexander Forbes Equity Holding (AFEH) is the holding company of Alexander Forbes Group. It only has preference shares listed on the Johannesburg Stock Exchange.

The company‚ which offers consulting services in the area of retirement and corporate health‚.said investment income in the March 2012 full-year period rose by 18% to R367m compared to the previous year.

Revenue from continuing operations grew 10% to R4.3b and profit rose 9% to R1.1bn.

Last year Alexander Forbes sold its risk services business to global risk adviser Marsh for about R1.1bn.

Shares in the company were flat at R9.40. - I-Net Bridge


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