{"id":7585,"date":"2013-08-02T16:40:22","date_gmt":"2013-08-02T16:40:22","guid":{"rendered":"http:\/\/disnaija.com\/nigerian-newspapers\/safrica-liberty-holding-earns-6-rise-on-earnings\/"},"modified":"2013-08-02T16:40:22","modified_gmt":"2013-08-02T16:40:22","slug":"safrica-liberty-holding-earns-6-rise-on-earnings","status":"publish","type":"post","link":"https:\/\/disnaija.com\/safrica-liberty-holding-earns-6-rise-on-earnings\/","title":{"rendered":"S\/Africa Liberty Holding earns 6% rise on earnings"},"content":{"rendered":"
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South Africa\u2019s long-term insurer Liberty Holdings posted a 6 percent rise in half-year earnings on Thursday after strong growth in new insurance business.\u00a0The firm, majority-owned by Africa\u2019s biggest bank Standard Group, reported a BEE normalised headline earnings per share of 602.7 cents from a restated 568.8 cents a year ago.\u00a0BEE normalised headline earnings, which exclude certain one-time items and take into account the impact of its black shareholder scheme, is Liberty\u2019s main performance measure.\u00a0New insurance business increased 11.8 percent to 3.1 bln rand while total assets under management grew by nearly 17 percent to 566 billion rand.<\/p>\n

Liberty, which has operations in 15 African countries and has asset management and property businesses, raised it dividend payout by 10 percent to 212 cents.\u00a0\u201cOur core insurance and asset management businesses are performing better than assumptions,\u201d it said.<\/p>\n

\u201cWe anticipate that they will continue to do so and attract higher levels of new business at improved margin despite the current pressure on consumer disposable income in South Africa.\u201d
Standard Bank holds a 53.6 percent stake in Liberty and reports its own first-half performance later this month.
Liberty\u2019s shares have risen over 10 percent so far this year. Johannesburg\u2019s All-Share index is up 5 percent in comparison<\/p>\n

The post S\/Africa Liberty Holding earns 6% rise on earnings appeared first on Peoples Daily Newspaper, Nigeria.<\/p>\n

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Source: People’s Daily Newspaper<\/p>\n

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