M&F has high hopes

INSURER Mutual & Federal expects to report a 620 to 640percent increase in full-year headline earnings, boosted by a recovery in financial markets.

INSURER Mutual & Federal expects to report a 620 to 640percent increase in full-year headline earnings, boosted by a recovery in financial markets.

The firm, which would be delisted on the JSE next month following an Old Mutual takeover offer in October, said it expected to report a 540 to 560percent rise in basic earnings per share.

M&F said yesterday realised and unrealised investment surpluses for the year to end-December was more than R200million compared with a deficit of R600million in 2008. - Reuters

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