/ 14 November 2000

ALEXANDER FORBES REPORTS STRONG GROWTH

SOUTH African financial services group Alexander Forbes unveiled strong interim earnings growth this week and said it planned further overseas acquisitions, providing scope for a near-term rise in its share. The financial risk services company, which gets half of its revenue from abroad, reported a 33% increase in headline earnings to 68.5 cents a share in the six months to end-September from 51.5 cents last year. Its operating revenue climbed by 31% to R1.4bn rand. Excluding acquisitions, earnings were up by 22% with good growth recorded across Africa, Europe, Asia and Latin America. – Reuters