Old Mutual forecasts strong operational growth for H1 2025

Old Mutual Limited expects its results from operations for the six months ended 30 June 2025 to increase by 6% to 26%, with a range of R4 498m to R5 346m. This growth is primarily attributed to strong performance in Old Mutual Insure, favorable financial markets, and a share repurchase program. Adjusted headline earnings are projected to rise by 19% to 39%, ranging from R3 888m to R4 541m, boosted by improved South African and Malawian equity market returns.

However, the company forecasts a decrease in headline earnings by 39% to 19%, to a range of R3 553m to R4 718m, and a 31% to 12% reduction in IFRS profit after tax. This is due to an approximate R2.2bn decrease in Zimbabwean profits following a functional currency change from Zimbabwe Gold to the US dollar from 1 July 2024, which impacts reported IFRS earnings but not adjusted headline earnings or net asset value.

In a separate announcement, Old Mutual Holdings plc (Kenya), a subsidiary of Old Mutual, released its interim results for the six months ended 30 June 2025, as required by the Capital Markets Authority Kenya. Investors are invited to a webcast and Q&A session on Wednesday, 10 September 2025, to discuss the group's interim results.