Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Old Mutual    OML   GB00B77J0862

OLD MUTUAL (OML)
Mes dernières consult.
Most popular
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Old Mutual : 1st Half Earnings Rise; Lifts Dividend by 32%

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/11/2017 | 06:56am CEST

By Razak Musah Baba

LONDON--Old Mutual PLC (OML.LN) raised its dividend by 32% on Friday, as it reported half-year net profit growth and said the businesses continued to perform in line with expectations.

The financial services company's net profit in the six months to June 30 was up 87% at 531 million pounds ($690 million) from GBP284 million a year earlier. This was helped by total revenue rising by 45% to GBP10.82 billion from GBP7.48 billion a year earlier.

Old Mutual said Friday it expects its full-year dividend to be toward the upper end of the range of 2.5 to 3.5 times cover. It raised its interim dividend to 3.53 pence from 2.67 pence a year earlier.

In March 2016, Old Mutual said it would separate the company into four businesses--Old Mutual Emerging Markets, Nedbank, Old Mutual Wealth and Old Mutual Asset Management--to maximize shareholder value.

"Old Mutual Wealth had a strong six months and Old Mutual Emerging Markets and Nedbank are trading resiliently given the continuing difficult macroeconomic conditions in South Africa," Group Chief Executive Bruce Hemphill said.

The company had previously said it would taking a conservative approach to setting the dividend, given the ongoing separation of its businesses and the need to increase their capital strength as independent entities.

"We are making excellent progress in delivering the managed separation of Old Mutual, having materially reduced debt and largely disposed of our stake in OM Asset Management," Mr. Hemphill said.

"Our focus for the next phase of managed separation is first to finalize the appropriate standalone balance sheets for our two unlisted businesses and second, subject to the necessary approvals, deliver them to our shareholders at the earliest opportunity in 2018 after our 2017 full-year results."

-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on OLD MUTUAL
08/19 OLD MUTUAL : Hattingh makes welcome comeback
08/18 OLD MUTUAL : Investor’s Notebook - New life for Old Mutual
08/14 OLD MUTUAL : South Africa-based Old Mutual eyes Kenya expansion
08/14 OLD MUTUAL : Split is on course
08/11 OLD MUTUAL : Stellenbosch has what it takes to deliver the best
08/11 OLD MUTUAL : Investors eye Old Mutual progress
08/11 OLD MUTUAL : Emerging Markets boasts new executive appointment
08/11 OLD MUTUAL : Emerging Markets boasts new executive appointment
08/11 OLD MUTUAL : Mike Ilsley appointed Chief Financial Officer of Old Mutual Emergin..
08/11DJOLD MUTUAL : 1st Half Earnings Rise; Lifts Dividend by 32%
More news
News from SeekingAlpha
08/11 Old Mutual Plc. 2017 Q2 - Results - Earnings Call Slides
08/11 Old Mutual reports 1H results
06/22 Old Mutual (ODMUF) Presents At Deutsche Bank dbAccess South Africa Conference..
06/08 Old Mutual Continues To Grow Stake In Markel CATCo Listed Fund
05/26 Old Mutual (ODMUF) Investor Presentation - Slideshow
Financials ( GBP)
Sales 2017 4 518 M
EBIT 2017 1 843 M
Net income 2017 954 M
Debt 2017 -
Yield 2017 3,57%
P/E ratio 2017 11,91
P/E ratio 2018 11,09
Capi. / Sales 2017 2,22x
Capi. / Sales 2018 2,13x
Capitalization 10 047 M
Chart OLD MUTUAL
Duration : Period :
Old Mutual Technical Analysis Chart | OML | GB00B77J0862 | 4-Traders
Technical analysis trends OLD MUTUAL
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 12
Average target price 2,15  GBP
Spread / Average Target 5,7%
EPS Revisions
Managers
NameTitle
Jonathan Bruce Hemphill Group Chief Executive Officer & Executive Director
Patrick Henry O'Sullivan Non-Executive Chairman
Timothy James William Tookey Chief Financial Officer
Alan Raymond Gillespie Senior Independent Non-Executive Director
Michael Arnold Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
OLD MUTUAL-1.74%12 933
PING AN INSURANCE (GRP) CO OF CHINA LTD50.07%143 690
CHINA LIFE INSURANCE CO LTD17.43%110 351
AIA GROUP LTD33.30%89 901
JAPAN POST HOLDINGS CO LTD-6.60%55 987
CHINA PACIFIC INSURANCE (GROUP) CO., LTD21.57%44 029