Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Shares in Old Mutual (OML) jumped 12.7p to 123.7p on news that it will sell its Nordic business Skandia Insurance for 22.5 billion Swedish kronor (2.1 billion pounds). The funds will be used to further its goal of reducing its net debt by at least 1.5 billion pounds by the end of 2012, adding that excess capital will be returned to shareholders. The move will also reduce the group's complexity, allowing it to focus on its long-term savings business.
http://www.investegate.co.uk/Article.aspx?id=201112150700260182U
http://www.investegate.co.uk/Article.aspx?id=201112150700440183U
Oct 24 (Reuters) - Old Mutual PLC: * UBS cuts Old Mutual PLC price target to 170P from 180P For a summary of rating actions and price targe [1 Hour Ago
JP Morgan upgrades Old Mutual from neutral to overweight, target price cut from 146p to 140p.
S&P Equity Research downgrades Old Mutual from hold to sell, target price cut from 152p to 99p.
Nedbank drives profits at Old Mutual By Benjamin Chiou Date: Friday 05 Aug 2011 LONDON (ShareCast) - Savings, insurance and investment giant Old Mutual reported an 18% rise in operating profits, driven by strong growth at its South African unit, Nedbank. Nevertheless, shares tumbled 3.45% to 109.20p after the open on Friday, as the broad sell-off in markets around the globe continued. Adjusted pre-tax operating profits jumped 18% from £714m to £845m, driven by a 35% increase at Nedbank, which saw profits climb from £266m to £359m. Nedbank’s headline earnings jump 28.8% to ZAR2.77bn, with diluted earnings per share up 26.3% to 600 cents, within the 23-28% rise expected after the unit raised its earnings guidance in late July. These results were driven by “ongoing strong non-interest revenue growth, improving margins and lower retail impairments,” the firm said. “[Profits were] up 15% [at constant currency] on the comparative period from improved trading results and we expect the initial impact of operational improvements to provide a more significant contribution to earnings in the future,” said chief executive Julian Roberts. “This improved performance was made against a backdrop of continued economic uncertainty in a number of our markets. We continue to focus on our strategy and we remain on track to meet our 2012 targets,” Roberts said. Earnings per share rose by 15% from 8.1p to 9.3p. The dividend was raised by 36% from 1.1p to 1.5p.
Nedbank Group Limited interim results 2011 Old Mutual plc announces that its majority owned South African banking subsidiary Nedbank Group Limited ("Nedbank Group") released its interim results for the six months ended 30 June 2011 today, 1 August 2011. The full Nedbank Group interim results together with detailed financial information in HTML and PDF formats, financial results presentation to analysts and a link to a webcast of the presentation to analysts can be found on the company's website www.nedbankgroup.co.za. The following is the full text of Nedbank Group's announcement: "REVIEWED CONDENSED FINANCIAL RESULTS for the six MONTHS ended 30 June 2011 Headline earnings R2 772m up 28,8% Diluted headline earnings per share 600 cents up 26,3% Strong NIR growth R7 139m up 15,9% ROE (excluding goodwill) 13,7% and ROE 12,2% Capital adequacy further strengthened (core Tier 1: 10,7%) Interim dividend per share up 25,0%, to 265 cents
http://www.investegate.co.uk/Article.aspx?id=201108010701044293L
http://www.investegate.co.uk/Article.aspx?id=201107261501001032L
Steady rise in the SP in the last 7 days, may it long continue. I have a lot of faith in this company and it will come good one day.
I guess posting all the daily RNS will keep you busy.
zed - I havnt time to post in dual mode!
http://www.investegate.co.uk/Article.aspx?id=201106200845016931I
& Finewine47, are you the same person?.
thanx
Goldman reiterates conviction buy on Old Mutual, target price reiterated at 172p.
has sent me an email regarding there agm which is interesting con I dont have any businees with that company at this present moment in time how ever I with monitor with interest--- MR wine
sm - Good morning to you - yes the Banks are in the 'wars' just now - to be honest I have left them alone as far as trading is concerned , for the time being anyway - too volatile for me just now! ...good luck too with your investments
Julian Roberts, Group Chief Executive, commented: "This has been a quarter of steady operational performance by the Group, building on the momentum we established in 2010. We are continuing to see strong growth in Emerging Markets, particularly the Mass Foundation cluster, and in our UK Platform business. "We are continuing to make good progress in delivering the Group strategy, with initiatives underway at each business unit to reduce costs, improve margins and deliver improved returns on equity in line with our stated targets. "We announced the completion of the sale of US Life on 7 April 2011. This represents another significant step in simplifying the Group and results in a substantial improvement to our risk profile."
Steady operational performance (Core operations only. All percentage movements are quoted in constant currency versus Q1 2010) · Continued momentum in retail NCCF leading to Long-Term Savings Division NCCF of £0.9 billion with US Asset Management net outflows of £3.7 billion · Funds under management up 1% from 31 December 2010 to £303.1 billion · APE sales down 4% to £369 million, reflecting lower sales in Italy; unit trust sales up 20% to £2.7 billion · Emerging Markets APE sales up strongly by 13% to £115 million · UK Platform gross inflows up 6% to £1.4 billion
http://www.investegate.co.uk/Article.aspx?id=201105120700134415G
you always come back with lots of info which i like as you know lloyds dropped so i`ve topped up there with a long view hold because if thay can pay back 3.5 then in a year or two thay will be free on the goverment ,and there shares will I hope move up with divs fingers crossed-- gl with your own invest`s
Nedbank Group Limited - First Quarter 2011 Trading Update Nedbank Group Limited ("Nedbank Group"), the majority owned South African banking subsidiary of Old Mutual plc, released its first quarter trading update today, 6 May 2011. The announcement can be found on the company's website www.nedbankgroup.co.za. The following is the full text of Nedbank Group's announcement: "NEDBANK GROUP - FIRST QUARTER 2011 TRADING UPDATE "The group had a good first quarter and made strong progress against its strategic objectives. We have seen ongoing improvement in performance, building on the momentum created in the 2nd half of 2010. This resulted in continued revenue growth, improvement in impairments and margins are showing signs of recovery. The group's focus on growth is evident from the strong progress in the delivery of our NIR growth strategy, the turnaround in our retail business and our focus on "portfolio tilt" towards businesses that generate higher levels of economic profit." Mike Brown Chief Executive
http://www.investegate.co.uk/Article.aspx?id=201105060705020573G