Lib­erty posts top 2013 re­sults

RISKSA Magazine - - NEWS -

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.

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