JOHANNESBURG – South African insurer Sanlam posted a 13 per cent rise in underlying half-year earnings yesterday, helped by improved short-term insurance operations, more new business and strong investment fund inflows.
The results pushed its stock up over two per cent to its highest level since mid-May, and analysts said the solid results signalled that the group had managed to halt the steady erosion of its market share. Sanlam said headline earnings per share based on a long-term rate of return were 72,1 cents per share compared to 63,8 cents per share in the six months to June 30, 2002.Headline earnings strip out exceptional items and their tax effects.The long-term rate of return makes an assessment of anticipated income from investments.-Nampa-ReutersSanlam said headline earnings per share based on a long-term rate of return were 72,1 cents per share compared to 63,8 cents per share in the six months to June 30, 2002.Headline earnings strip out exceptional items and their tax effects.The long-term rate of return makes an assessment of anticipated income from investments.-Nampa-Reuters
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