Sanlam Forecasts EPS Up 24%–34% as Headline Earnings Per Share Falls 10%–20%
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South African financial-services group Sanlam expects earnings per share of 607 to 656 cents for the six months through June, up 24% to 34% from 490 cents a year earlier. It attributed the rise mainly to one-off gains from selling its active asset manager and dilution of its Shriram Finance stake after Mitsubishi UFJ Financial Group’s investment. Headline earnings per share are forecast at 372 to 418 cents, down 10% to 20%, as weaker shareholder investment returns and elevated weather-related and other large insurance claims weighed on results. Sanlam plans to publish the unaudited figures on September 10.