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Old Mutual Ltd said on Wednesday it expects to deliver ‘solid’ performance for 2024, though loss on the disposal of subsidiaries and an impairment charge is likely to cast a shadow on results. The Anglo-South African financial services firm projects earnings per share at between 160.0 rand cents and 191.7 cents in 2024 from 158.4 cents in 2023. Headline EPS is likely to range between 187.0 cents and 220.1 cents, compared to 165.5 cents. Old Mutual estimates results from operations to be between R 7.84 billion and R 9.51 billion in 2024, from R 8.34 billion in 2023. ‘We delivered solid results from operations driven by strong performance in Old Mutual Insure, Wealth Management and Old Mutual Investments, partially offset by lower life profits in Personal Finance as well as our investment in OM Bank,’ the company said. IFRS profit after tax attributable to equity holders of the parent is sen ranging between R 6.99 billion and R 8.41 billion from R 7.06 billion. The movement between IFRS profit after tax and headline earnings was primarily driven by the loss recognised on the disposal of subsidiaries from the countries which Old Mutual exited, as well as an impairment on an investment in an associate. Old Mutual expects to release its annual financial results on March 18. Shares in Old Mutual were down 1.6% to R 12.07 on Wednesday morning in Johannesburg, and fell 3.3% to 50.60 pence each in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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