Durban - Liberty Holdings told its shareholders that they must expect lower headline earnings and normalised headline earnings for the six months to end June.
“Shareholders are advised that basic earnings per ordinary share and headline earnings per ordinary share are expected to be between 8 percent to 18 percent lower than the six months to end June 2016,” the group said.
This would result in basic headline earnings per ordinary share and headline earnings per ordinary share to be between 546.9cents and 613.5c. But the group assured its shareholders that its capital position remained strong compared to the end of December.
The group’s subsidiary, Stanlib South Africa, has also experienced margin pressure due to the weaker investment markets. “Stanlib’s earnings have been further impacted by certain operational write-offs. The shareholders’ investment portfolio delivered returns in line with benchmark, but are lower than the comparative period due to market movements. Liberty Holdings interim results will be released on August 4.
BUSINESS REPORT ONLINE