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Sanlam sees higher headline earnings in H1

Sanlam Ltd. reported normalized headline earnings of 4.92 billion rand for the first half of the year, up from 4.48 billion rand in the first half of 2017.

The company also posted headline earnings of 5.13 billion rand, up from 4.57 billion rand during the first half of 2017.

The company logged an increase of 8% in net result from financial services, an 18% increase in net investment return earned on the capital portfolio and a 4% decline in amortization of intangible assets and equity participation costs.

New business volumes decreased slightly to 109.52 billion rand from 110.26 billion rand, amidst pressure on new inflows at its investment arm in South Africa.

As of Sept. 5, US$1 was equivalent to 15.48 South African rand.