SANLAM:  7,741   +65 (+0.85%)  25/04/2019 00:00

BRIEF-Sanlam Normalised Headline Earnings Fall 10 Pct For 10-months Ended Oct.

(Corrects month in headline to October from June)

Dec 5 (Reuters) - Sanlam Ltd:

* OPERATIONAL UPDATE DECEMBER 2018

* MADE SIGNIFICANT STRATEGIC PROGRESS IN FOUR MONTHS SINCE END OF JUNE UP TO END OF OCTOBER 2018

* EXPECT THAT ECONOMIC AND OPERATING ENVIRONMENT WILL REMAIN SUBDUED IN OUR LARGEST MARKETS FOR REMAINDER OF 2018

* FOR 10 MONTHS TO 31 OCTOBER NEW BUSINESS VOLUMES OF R188 BILLION, UP 3% ON FIRST 10 MONTHS OF 2017 FINANCIAL YEAR

* INVESTMENT MARKET AND CURRENCY VOLATILITY ARE ALSO EXPECTED TO PERSIST FOR REMAINDER OF 2018

* FOR 10 MONTHS TO 31 OCTOBER NET RESULT FROM FINANCIAL SERVICES INCREASED BY 2% ON FIRST 10 MONTHS OF 2017 FINANCIAL YEAR

* DO NOT FORESEE ANY SIGNIFICANT IMPROVEMENT IN OPERATIONAL TRENDS EXPERIENCED IN FIRST 10 MONTHS OF 2018

* FOR 10 MONTHS TO 31 OCTOBER NORMALISED HEADLINE EARNINGS DECLINED BY 10%, ATTRIBUTABLE TO A 55% DECLINE IN NET INVESTMENT RETURN Source text for Eikon: Further company coverage:

First Published: 2018-12-05 14:04:29
Updated 2018-12-05 14:53:49


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