Diversified financial services group Vunani’s headline earnings per share fell slightly to 20.3c in the six months to August 31 from 21.7c at the same time in 2021, the company’s results showed yesterday.
Nevertheless, the interim dividend was raised to 9c from 6.5c at the interim stage last year. Revenue and premiums increased 17% to R376.8 million. Taxed profit was flat at R39.4m.
Total comprehensive income came to R39.8m versus R40.4m in 2021, while attributable profit fell to R32.3m from R34.9 million.
Net asset value rose to 203.6c per share from 196.1c.
The company’s reporting segments include fund management, asset administration, insurance, investment banking and institutional securities broking.
Directors said the first half had seen an improvement in the operational performance compared to the prior period despite the impact of Covid-19 and the war in Ukraine on the global and local economy.
“The group believes it is in a position to benefit from the improved growth prospects of the local economy driven by improved performance and profitability in the operating businesses,” they said.
“The group will continue its focus on improving the synergies of its operating businesses as a key growth strategy. Vunani will continue to look at acquisitions that are in line with creating a diversified financial services business.”
BUSINESS REPORT