Absa sees higher 2007 earnings

Absa, South Africa’s biggest retail bank, said on Monday it expects group headline earnings per share and EPS to be between 15% and 19% higher in 2007.

Absa, which is majority-owned by Britain’s Barclays, said headline EPS and EPS for the bank unit would be between 25% and 28% higher than the previous year, the bank said in a statement.

”The lower growth in earnings of the group, relative to that of the bank, was as a result of lower investment earnings in the bancassurance operations. This division sustained its earnings at the same level as the previous year,” Absa said.

Headline earnings per share is the key profit measure in South Africa and excludes non-trading, capital and certain extraordinary items.

Absa Bank and Absa Group’s results for the year ended on 31 December 2007 will be released on February 19. – Reuters

We make it make sense

If this story helped you navigate your world, subscribe to the M&G today for just R30 for the first three months

Subscribers get access to all our best journalism, subscriber-only newsletters, events and a weekly cryptic crossword.”

Related stories


Already a subscriber? Sign in here


Latest stories

Harbour views at 9th Avenue Waterside

The award-winning eatery, which offers fine wines and food, is on stilts at Durban’s harbour

Zimbabwe hospital workers plot stillbirth burials

The policy is to cremate deceased infants but Bulawayo Hospital’s incinerators are not working

Salman Rushdie on ventilator, likely to lose an eye after...

The British author of "The Satanic Verses" had to be airlifted to hospital for emergency surgery following the attack

Covid-19 has led to an increase in depression, mental illness...

There has been an unprecedented structural shift in disease patterns, which has highlighted unequal access to healthcare

press releases

Loading latest Press Releases…