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BRIEF-Rand Merchant Investment posts 12 pct rise in HY normalised earnings from cont ops
March 13, 2017 / 6:12 AM / 6 months ago

BRIEF-Rand Merchant Investment posts 12 pct rise in HY normalised earnings from cont ops

March 13 (Reuters) - Rand Merchant Investment Holdings Ltd

* HY normalised earnings from continuing operations up 12% to 121.3 cents

* HY normalised earnings from continuing and discontinued operations up 11% to 121.5 cents

* Sale of RMI’s investment in RMB Structured Insurance is expected to be completed by mid-March 2017

* Economic environment for period under review remained challenging

* Increasing inflation, rising levels of unemployment and low consumer confidence contributed to muted household spending

* Ongoing local political uncertainty has also negatively impacted investor confidence

* Shareholders should expect a decrease in final dividend to be declared in September 2017

* RMI will incur significant additional funding costs on preference shares issued and loans incurred

* Declare an interim dividend of 53.0 cents

* Local growth in new business volumes and profit at RMI’s existing investments expected to be affected by complex regulatory environment

* International markets in which RMI’s portfolio companies operate are also expected to face growth and stability issues Source text for Eikon: Further company coverage:

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