Liberty Group Reports Good Results, Shares Rise |
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March 5 - Liberty Group, the third-largest South African insurance company, reported good results on Friday, which led to the shares outpacing the JSE Top 40 Index. Earnings per share for 2006 increased by an impressive 34% compared to the previous year. A strong market certainly helped but internal changes that led to a reduction in costs also played a significant role. Standard bank owns a 30% stake in Liberty Group whose insurance operation expenses did not increase from the previous year's results. Towards the end of 2006 Liberty bought out the remaining 62.6% stake in the money management company Stanlib that it did not already own. This led to a substantial increase in revenues. Analysts were clearly pleased by the results even though sales volumes were below par. This was, however, expected and analysts preferred to focus on the embedded share value, which was higher than forecast. This bit of good news was all the traders needed to see as the share price rose by nearly 2% to close at R79,60. Related Insurance Articles: * Less Than Half Of South Africa Has Car Insurance * Insurance Risks With Used Cars In South Africa * Possible South African Insurance Merger For Sanlam * Dial Direct Offers Six Month Premium Waiver Cover * Santam Wins Industry Award For Low Cost Insurance * When Car And Home Insurance Policies Do Not Pay Out * South African Unemployment Insurance For All * How To Ensure Your South African Car Insurance Pays Out 
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| 3/14/2010 7:06:42 AM | |||||||||||||||||||||
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