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why do we not discuss things about this share. 31st august, thats a long time ago
South African insurance group Old Mutual has completed the sale of the Finnish branch of Skandia Life Assurance Company to OP-Pohjola Group, continuing Old Mutual's focus on the streamlining of its business. The proceeds from the sale will be applied to reduce debt. As at June 30th, the branch had gross assets of €1.3bn.
Old Mutual Sell 09-Aug-12 £3,659,439.40 Julian Roberts 2,190,494 @ 167.06p
The Tempus column in The Times celebrates the impressive turnaround that Anglo-South African financial firm Old Mutual has achieved in just four years. Chief Executive Julian Roberts took a business ('that could best be described as a sprawling financial mess', the paper says) that stretched across 33 countries and aimed to simplify the group, selling assets, temporary suspending the dividend and bringing down debts. The column highlights yesterday's first-half results from the firm, in which it reported a 12% increase in operating profits and a 17% rise in the interim dividend. "Old Mutual is not yet fully repaired — for example, work remains before the US asset management business can be floated — but this offers potential upside benefits for investors," Tempus said. Nevertheless, the column says it's a stock to 'hold'.
Currency headwinds were a problem for South African insurance group Old Mutual in the first half of 2012, as were falling interest rates, which hit investment returns. Profit before tax in the six months to the end of June fell to £733m from £909m in 2011. Adjusted operating profit on an international financial reporting standards (IFRS) basis rose 1% to £791m from £785m the year before, but was up 12% on a constant exchange rates basis.
PROSPECTS In the light of the group's 2012 forecast for GDP growth and interest rates the group's financial guidance for the full year is currently as follows: · Advances growth at mid single digits. · NIM to increase slightly from the 3,46% level for the 2011 full year. · The credit loss ratio to continue improving to within the upper end of the group's target range of 0,60% to 1,00%. · NIR (excluding fair-value adjustments) to grow at low double digits, maintaining ongoing improvements in the group's NIR-to-expenses ratio. · Expenses, including investing for growth, to increase by mid to upper single digits. · The group to maintain strong capital ratios and continue to strengthen funding and liquidity in preparation for Basel III.
'Nedbank Group performed strongly in the first half of 2012, with the results underpinned by good revenue growth, prudent provisioning, responsible expense management and increased capital and liquidity ratios. We continue to build on the momentum created over the past few years and make good progress in delivering on our key strategic focus areas. Nedbank is a vision-led and values-driven company and is firmly committed to supporting our staff, clients, shareholders, regulators and communities in achieving our vision of building Africa's most admired bank. Highlights in respect of our key stakeholders include our corporate culture and values measures now being at worldclass levels; advances of new loans to clients amounting to R69bn; launching a number of innovative products, including the secure Nedbank App Suite; and increasing access to banking through 76 new outlets and 385 new ATMs. We also continue to lead in transformation as the JSE's most empowered large company as measured by the dti Codes, maintaining a level 2 rating. Notwithstanding the increasingly challenging market conditions, Nedbank Group remains on track to achieve its earnings growth target in 2012.' Mike Brown Chief Executive
Nedbank Group Limited interim results 2012 Nedbank Group Limited ("Nedbank Group"), the majority-owned South African banking subsidiary of Old Mutual plc, released its interim results for the six months ended 30 June 2012 today, 1 August 2012. 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 2012 HIGHLIGHTS ROE (excluding goodwill) increased to 15,7% Core Tier 1 (Basel II.5) capital ratio strengthened to 10,6% Interim dividend per share of 340 cents Headline earnings R3 468m up 25,1% Diluted headline earnings per share 741 cents up 23,5% Strong NIR growth R8 265m up 15,8%
http://www.investegate.co.uk/Article.aspx?id=201208010702019885I
I agree with nomura. I am buchaneer.
Nomura upgrades Old Mutual from neutral to buy, target price raised from 150p to 202p.
was offered shares when OML demutulised, never sold them its almost 15yrs now, then hence my name! they are not doing me any good either-but for my names sake-i will not sell. what a loyalist!
Barclays Capital initiates equal weight on Old Mutual, target price 180p.
Old Mutual Buy 22-Jun-12 £76,142.71 Reuel Khoza 5,600 @ 1,359.69p
Hi There Avitar, OML have consolidated their shares. For every 8 that you owned you know own 7. So it looks like if you have 'lost' 400 you now own 2800 (your previous holding was 3200 ?). They are to pay a one off special divident on 7th June of 18p per share arising from the £1bn sale of their Nordic business, in addition to which they will pay their final 2011/12 divident of 3.5p per share. These guys have significantly restructured their business over the last year or two and, in my opinion, are leaner, stronger and well positioned to sit well in their sector. I'm in this for the long term and am expecting strong growth from 2014 onwards. I am 'buchaneer'.
Dividend to be paid 7/6/2012
can someone tell me when a special divi is payed , 18 pence , why has my share holding decreced , and the share price is 181 on my portfolio , it looks like i have not gained anything , please answers
Lost about 400 shares to day anyone explain?
Back in March 2009, Old Mutual was what you might call an undesirable investment. The financial conglomerate had scrapped its dividend after running into difficulties linked to an overzealous acquisition. Since then, the FTSE 100 group's management team – led by chief executive Julian Roberts – has slimmed down the business, exited markets and taken steps to pay down debt. Last year, Old Mutual saw operating profits rise 14% to £1.5bn, allowing the company to announce earnings per share up 13% to 15.7p and a total dividend up 25% to 5p. Curiously, Mr Roberts said the group is also poised to expand its interests in Africa, close to its domestic base of South Africa. The shares are a classic recovery play and should continue to benefit as its structure is simplified. Its focus on Africa should also entice daring investors, says The Sunday Telegraph´s Questor team.
Nomura has taken its first look at Old Mutual's results, saying that there were no surprises in the savings and insurance group's full-year statement. Adjusted operating profits of £1,614m were more or less in line with consensus estimates, "underlining the operational resilience of Old Mutual during a tough year for financial services businesses," the broker said. Nevertheless, the broker says that all these positives are already in the price with the stock trading at 9.1 times prospective earnings, compared to a sector average multiple of 8.3. Nomura keeps a neutral rating and 150p target.
Stocks to watch Savings, investments and insurance giant Old Mutual saw a strong increase in adjusted profits in 2011 despite a fall in funds under management and net client cash flows. Adjusted operating pre-tax profit jumped 14% to £1,515m in the 12 months ended December 31st.
Following the sale of Old Mutual's Nordic businesses, UBS has raised its target price for the savings and investment group and reiterated its buy rating.
Good news coming out of OML payment of a special divi in May, all funds greatly received Always had faith in this one.
Savings and investments giant Old Mutual has announced that it intends to combine its Wealth Management Continental Europe business (France and Italy) with the Skandia Retail Europe business unit (Germany, Austria, Poland and Switzerland) in response to macro-economic and regulatory changes in the European industry. "We concluded that the affluent long-term savings and investment market in Europe is attractive for Old Mutual," said Pal Hanratty, Chief Executive of Old Mutual's Long-Term Savings business.
I hope I have not spoken to soon, but OML making good headway of late. I have a lot of faith in this one for the future.