March 6, 2018 / 6:41 AM / 5 months ago

South African lender FirstRand reports slower H1 profit rise

JOHANNESBURG, March 6 (Reuters) - South Africa’s No.1 lender by value, FirstRand, reported a 6 percent increase in half-year profit on Tuesday, a substantial slowdown from a year ago as a weak economy hit investment and consumption spending.

Basic diluted headline EPS came in at 224.2 cents in the six months ended December compared with 211.5 cents a year earlier. This six percent profit increase was less than half the 14 percent rise posted in 2017.

Headline EPS is primary measure of profit in South African that strips out certain one-off items. (Reporting by Tiisetso Motsoeneng Editing by Joe Brock)

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