Its shares fell more than 3 percent yesterday morning immediately after it released weaker-than-expected results for the year to December 31, 2019, but the price regained some ground later and was only 0.16 percent weaker at R77.20 early yesterday afternoon. But the share closed 1.37 percent higher at R78.38 on the JSE yesterday.
Normalised headline earnings per share fell 10percent to 431.7cents after volatile global equity markets cut investment returns and the group was hurt by the weak local economy. Heps was also well short of a 457.7c a share consensus estimate made by five analysts on February 15, this year.
The group net investment return was down 57 percent to R707million. Normalised headline earnings were 8 percent lower at R9.1billion.
The dividend was nonetheless increased 7.6 percent to R3.12 a share - the payout was slightly above the analysts’ consensus dividend forecast of 310.1c a share.