Old Mutual HY sales grew by 14%

Old Mutual, a Pan African financial services group, has seen a surge in its stock performance following the release of its interim results. The company raised its dividend by almost a third as adjusted headline earnings per share grew by 23 per cent, driven by increased returns on shareholder investment portfolios. In a recent CNBC Africa interview, Casper Troskie, the Chief Financial Officer at Old Mutual, shed light on the factors behind the company's impressive numbers. Troskie attributes the strong growth in new business to internal initiatives, such as increased market share in core businesses and the launch of new offerings in the risk segment. The company has witnessed significant traction in both its retail and corporate businesses in South Africa, as well as in its Africa business segment. Despite facing challenges like load shedding, weather-related events, inflation, and unemployment, Old Mutual has managed to improve its operating efficiencies through automation and straight-through processing. This internal enhancement has helped offset the external risks, enabling the company to navigate the challenging business environment. Looking ahead, Old Mutual remains optimistic about its performance in the next six months, particularly in its personal finance sector. While keeping a close eye on consumer pressure, the company anticipates a potential positive impact following a reduction in inflation. Old Mutual is committed to supporting its clients during these tough times and will continue to focus on executing successful strategies in the ever-evolving market. With a strong financial foundation and a proactive approach, Old Mutual is poised to weather the uncertainties ahead and deliver value to its stakeholders.