Once-off costs drive Sanlam’s interim earnings down

📆 16/08/2019 16:15:00
📰 BDliveSA

⏱ Reading Time:
33 sec. here
2 min. at publisher
📊 Quality Score:
News: 17%
Publisher: 63%

Italia Notizia Notizia

The financial services firm recognised an expense of R1.7bn after issuing shares to a new B-BBEE entity

Sanlam says half-year earnings fell by up to 35% partly because of once-off charges linked to its broad-based black economic empowerment scheme.

— a move it says will"position Sanlam as the foremost empowered insurance and investment management group in SA". The group said earnings in the six months to end-June were also dented by certain fund transfers and an additional amortisation charge of about R200m linked to the consolidation of Saham Finances and Nucleus as group subsidiaries.But shares in the financial services firm rose 1% to R70.

Excluding the one-off charge, the amortisation of intangible assets and the fund transfers, headline earnings would have increased between 8% and 18%, Sanlam said.Sanlam said it would publish its interim results on September 5.

Scrivi un Commento

Abbiamo riassunto questa notizia in modo che tu possa leggerla velocemente. Se sei interessato alla notizia puoi leggere il testo completo qui. Leggi di più:

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

ANC announces interim provincial committee to lead W Cape - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.ANC Secretary General, Ace Magashule, has announced an interim provincial committee to lead the ANC in the Western Cape for the next nine months.
Fonte: SABC News Online - 🏆 32. / 51 Leggi di più »