BRIEF-Clientele Says HY Diluted Headline EPS Decreased By 26 Pct

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BRIEF-Clientele Says HY Diluted Headline EPS Decreased By 26 Pct
Credit: © Reuters.

Feb 28 (Reuters) - Clientele Ltd CLIJ.J :

* HY DILUTED HEADLINE EARNINGS PER SHARE DECREASED BY 26% TO 57.62 CENTS

* A DISAPPOINTING SET OF RESULTS FOR SIX MONTH PERIOD AGAINST BACKDROP OF A PARTICULARLY CHALLENGING ECONOMIC AND INVESTMENT ENVIRONMENT

* HY NET INSURANCE PREMIUMS INCREASED BY 4% TO R1.1 BILLION

* HY VALUE OF NEW BUSINESS OF R204.1 MILLION

* HY NEW BUSINESS PROFIT MARGINS (EXCLUDING SINGLE PREMIUM INVESTMENT BUSINESS) HAVE DECREASED TO 13.5% (2017: 23.0%)

* BOARD IS NOT EXPECTING ANY MAJOR IMPROVEMENT IN ECONOMIC ENVIRONMENT FOR REMAINDER OF FINANCIAL YEAR

* HY NEW BUSINESS PRODUCTION VOLUMES ARE BELOW EXPECTATION FOR TRADITIONAL TELESALES AND INDEPENDENT FIELD ADVERTISERS CHANNELS

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