SA’s largest pension fund administrator, Alexander Forbes, has warned shareholders that headline profit will fall by more than R230m in its year to end-March, with the group feeling the effects of lost earnings after the sale of its SA insurance business and a R1.2bn liability related to a former subsidiary in the UK.
Total headline earnings per share is expected to fall as much as 65% to end-March, the group said in a trading update, warning shareholders that liability costs related to redress payments in the UK had risen significantly...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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Source: BDliveSA - 🏆 12. / 63 Read more »
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