Financial Result |

Old Mutual First-Half Profit Climbs as Insurer’s Split Looms

JOHANNESBURG (Capital Markets in Africa) – Old Mutual Plc, the London insurer planning to split into four separate businesses, said first-half profit almost doubled after it reduced debt and sold shares in its U.S. asset management unit. Pre-tax adjusted operating profit rose 37 percent and net income climbed to 531 million pounds ($689 million) from 284 million pounds a year earlier, the London-based insurer said in a statement on Friday. Diluted basic earnings per ordinary share increased…

Zenith Bank Gross Earnings up 14.8%

Posted on by The Editorial Team

Zenith Bank (“Zenith” or “the Bank”) yesterday released its audited FY:2014 result on the floor of the Nigerian Stock Exchange (NSE), outperforming our expectations. We present the highlights of the result and our FY:2015 estimates. Gross Earnings up 14.8% Y-o-Y; PAT up 4.3% Y-o-Y The wave of the release of banks’ FY:2014 results intensified yesterday, building investors’ momentum as Zenith recorded positive growth in both top and bottom line notwithstanding Central Bank of Nigeria’s (CBN)…

Guaranty Trust Bank Earnings up 14.8%

Posted on by The Editorial Team

Guaranty Trust Bank (“GTBank” or “the Bank”) today, March 5, 2015 published its audited FY:2014 result on the floor of the Nigerian Stock Exchange (NSE), recording impressive growth in top and bottom lines amidst harsh operating environment. We present the highlights of the result and our 2015 estimates. Leading the Pack: Earnings and PAT up 14.8% and 9.6%Y-o-Y GTBank reinforced its leadership role in the banking space to be the first bank to publish its…