Sasfin banks on future growth despite 18% dip in profit

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Roland Sassoon (Supplied)
Roland Sassoon (Supplied)

Johannesburg – Banking and financial services group Sasfin [JSE:SFN] reported a drop of 18.84% in headline earnings, to R86.1m.

This is according to the group’s interim financial results for the six months ended December 31, 2016. Headline earnings per share came down to 271.84c from 334.43c reported in December 2015. A dividend of 80c per share was declared, down from 98.57c from the previous period.

“This drop in earnings was largely due to two unusual credit losses as well as a write down in Sasfin’s investment in Efficient Group Limited (Efficient),” the group said in a statement.

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