Liberty posts top 2013 results
Liberty Holdings reported that the company attracted a total net c customer cash inflow of R22.9 billion ( asset management R16.2 billion and insurance operations R6.7 billion) in 2013, which was R3.6 billion, or 19 per cent higher than in 2012. Liberty Holdings 2013 financial results reveal growth in normalised headline earnings per share at R14.40, up from R13 in 2012. The earnings were adjusted to reflect the reality of the black economic empowerment ( BEE) transaction instead of reflecting the transaction as a share buy- back. Liberty called the results one of the best in the group’s history, with a number of key indicators demonstrating substantially improved performance. In particular, the group reported significant growth in the value of long- term insurance new business, customer cash inflows, operating earnings and the group’s Shareholder Investment Portfolio ( SIP) outperformance. The value of long- term insurance new business in 2013 grew 21 per cent to a total R839 million.