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Media Moves: POC Podcast signed up for Apple Podcasts, Hiller named inclusion and diversity champion for RX Africa, Ster-Kinekor reopens

Media Moves: POC Podcast signed up for Apple Podcasts, Hiller named inclusion and diversity champion for RX Africa, Ster-Kinekor reopens
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#BehindtheMask: Nedbank IMC speaker Nontokozo Madonsela

#BehindtheMask: Nedbank IMC speaker Nontokozo Madonsela
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Absa shares are down on the JSE as the bank's annual earnings decline by 51%

Absa shares are down on the JSE as the bank's annual earnings decline by 51%
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Absa Group Earnings Decline; 7% Pre-Provision Profit Growth Indicates Positive Underlying Performance

Absa Group Ltd., one of Africa’s largest financial services providers, today reported a 51% decline in normalised headline earnings to R8 billion after impairments nearly trebled to R20.6 billion amid the economic downturn that was precipitated by the COVID-19 pandemic.

Earnings and returns improved materially in the second half of the year as lockdown restrictions eased, particularly in South Africa, which accounts for more than 80% of the group’s earnings. Group headline earnings fell 82% in the first half of 2020 compared with the first half of 2019. Headline earnings in the second half of last year were 19% lower than in the second half of 2019. ....

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Absa defers dividend after 51% earnings drop

Absa defers dividend after 51% earnings drop
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Absa Group on Monday (15 March) reported a 51% decline in normalised headline earnings for the year ended December 2020, to R8 billion, after impairments nearly trebled to R20.6 billion amid the economic downturn that was precipitated by the Covid-19 pandemic.
Revenue increased 2% to R81.4 billion, Absa said; however, impairments increased 163% to R20.6 billion.
Diluted headline earnings per ordinary share declined 58% to 730.9 cents per share, while the group decided against a dividend declaration to preserve capital in the current environment.
The lender said that earnings and returns improved materially in the second half of the year as lockdown restrictions eased, particularly in South Africa, which accounts for more than 80% of the group’s earnings. ....

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