Liberty's BEE earnings up to 664.7 cents a share

Financial services group Liberty Holdings grew its black economic empowerment (BEE) normalised headline earnings per share (HEPS) by 10% to 664.7c for the six months to June.

8 Aug 2014

Liberty says it is delivering on its strategies and providing BEE shareholders with value. Image: Isolated Images Free Digital Photos

BEE normalised headline earnings‚ which exclude certain one-time items and take into account the effect of its black shareholder scheme‚ is Liberty's main performance measure.

The company said the growth in operating earnings was achieved without any significant modelling changes. It said the performances of all its business units had broadly tracked expectation.

"New business from long-term insurance operations grew 10% to R3.44bn‚ supported by strong single premium investment sales‚" the company said. Net customer cash inflows increased to R4.5bn from R1.9bn from last year.

Total assets under management increased to R561bn from R545bn in 2013.

Liberty said its recent positive performances were a result of management consistently delivering on its strategy within a comprehensive governance structure.

Liberty declared an interim dividend of 232c per share.