S.African insurer Old Mutual expects full-year profit to fall more than 20%

  • Reuters
  • Stock Market News
S.African insurer Old Mutual expects full-year profit to fall more than 20%
Credit: © Reuters.

JOHANNESBURG, Jan 25 (Reuters) - South Africa's third-biggest insurer Old Mutual Ltd (LON: OMU ) OMUJ.J said its headline earnings per share (HEPS) for the year ended Dec. 31 will be down more than 20% from the previous year, as it was weighed by a challenging business environment.

The company did not share specific numbers on HEPS, the main profit measure in South Africa.

"Whilst there are encouraging signs of recovery in our sales metrics, we are concerned about the rapidly increasing rate of COVID-19 infections in our key geographies," the company said on Monday.

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