Old Mutual warns it is unlikely to hit growth targets amid coronavirus disruption

Pedro Gonçalves
clock • 2 min read

South Africa's Old Mutual reported a 7% rise in adjusted full-year profit on Monday but warned it expects to miss key targets next year as the increasing economic damage from the coronavirus is set to weigh on the insurance group's performance. The insurer's adjusted headline earnings per share for the year to Dec. 31 stood at 209.3 cents ($0.1283), versus 195.1 cents a year earlier. Headline earnings per share is the main profit measure in South Africa. Old Mutual said it expects to miss its growth target of two percentage points above nominal GDP growth in results from operations, a...

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