Quilter plcâs shares rose more than 8 percent on the JSE yesterday after the wealth manager returned to profitability in the year to the end of December, delivering results that were ahead of market expectations. Picture: Karen Sandison/African News Agency(ANA)
Quilter shares rise as annual earnings beat expectations
By Sandile Mchunu
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DURBAN - QUILTER plcâs shares rose more than 8 percent on the JSE yesterday after the wealth manager returned to profitability in the year to the end of December, delivering results that were ahead of market expectations.
The group reported a profit after tax from continuing operations of £89 million (about R1.9 billion) compared with a loss of £21m last year and basic earnings per share from continuing operations increased to 5.1 pence a share compared with a loss of 1.1p a year earlier. However, adjusted diluted earnings per share from continuing operations of 8.5p were almost flat compared with the 8.6p reported last year.