Clientele earnings rise 22% to 54.62c
Financial services group Clientele reported a 21% increase in diluted headline earnings per share to 54.62c for the six months to December from the same time a year earlier.
Clientele's new business income rose by 128% in the six months to December Image: Nirots Free Digital Photos
The group said earnings were driven by an improvement in new business volumes and quality.
Net insurance premiums increased by 11% R636.9m during the period‚ with the value of new business leaping 128% to a record level of R325.2m.
The insurer said its focus for the future would be to continue the momentum that had been built in production and to maintain the quality of new business together with initiatives to improve withdrawals in respect of older duration policies.
Clientele did not declare an interim dividend. Based on the current share price Clientele is valued at R4,83bn.