September 5, 2019 / 5:20 AM / 2 months ago

S.Africa's Sanlam half-year profit plunges 32%

JOHANNESBURG, Sept 5 (Reuters) - South Africa’s largest insurer Sanlam on Thursday reported a 32% slump in half-year profits, as one-off costs including a charge related to a black-economic empowerment transaction outweighed a rebound in performance.

The company said its headline earnings per share - the main profit measure in South Africa - stood at 170.7 cents ($0.1120)in the six months to June 30, compared to 251 cents a year earlier. ($1 = 15.2369 rand) (Reporting by Onke Ngcuka; Editing by Rashmi Aich)

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