Momentum Group has reported record earnings for the year to end-June, with normalised headline earnings passing the R7bn mark set under its Impact strategy a full year ahead of schedule. The insurer credited a strong operational showing across most of its business units.
Behind Momentum Group's record earnings
Normalised headline earnings, which strip out items such as treasury shares held by the iSabelo Trust and the amortisation of intangibles from acquisitions, rose 13% to R7.06bn. Operating profit grew 9% to R5.9bn, and headline earnings per share climbed 18% to 528.7c.