Business 11.6.2018 09:16 am

Alexander Forbes braves headwinds as FY18 HEPS decline 16.8%

Nonkululeko Nyembezi has been appointed as the first black woman to chair Alexander Forbes. PHOTO: Supplied by Alexander Forbes

Nonkululeko Nyembezi has been appointed as the first black woman to chair Alexander Forbes. PHOTO: Supplied by Alexander Forbes

The company says this is because of the disposal of Lane Clark & Peacock in December 2016.

Financial services group Alexander Forbes on Monday reported a 16.8 percent decline in headline earnings per share of 44.4 cents per share for the financial year ended 31 March 2018 owing to the disposal of Lane Clark & Peacock in December 2016.

This was despite a five percent growth in operating income net of direct expenses to R3.6 billion, with strong top-line performance across key growth business segments.

Andrew Darfoor, group chief executive, said the results were starting to show signs of tangible progress across key areas aligned to the group’s Ambition 2022 strategy.

“This is reflected in improved operating performance across key group metrics, sustained delivery of operating leverage alongside improved shareholder returns as evidenced by a further dividend increase and a 21.9 percent shareholder return for the year,” Darfoor said.

“Despite headwinds from macroeconomic and political uncertainty across our markets, we are starting to deliver better and more consistent results for our customers and investors.”

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