Financial services group Absa on Monday published interim financial results for the period ended June 2022 showing that headline earnings increased by 30%, and diluted headline earnings per share (HEPS) grew 29.8% to 1 278.4 cents per share.
Absa declared an ordinary dividend of 650 cents per share, up 110% from 310 cents.
“Moreover, dramatic increases in inflation are being felt across most economies, triggering in many the most rapid monetary policy tightening in decades. Economic growth is widely expected to fall, although the extent remains unclear. This macroeconomic environment has increased risk aversion in global financial markets, producing a material headwind for financial flows into emerging markets.”
“Sectoral differences are likely to remain significant, with high commodity prices boosting parts of the mining sector, while households face steep increases in fuel, food and other important prices.”
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