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| SALIENT RESULTS |
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| for the six months ended 30 June 2008 |
|
2008 |
2007 |
Δ |
| SANLAM LIMITED GROUP |
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| Earnings: |
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|
| Net result from financial services per share |
cents |
62,6 |
64,7 |
-3% |
| Core earnings per share (1) |
cents |
89,7 |
86,2 |
4% |
| Normalised headline earnings per share (2) |
cents |
58,8 |
135,9 |
-57% |
| Diluted headline earnings per share |
cents |
94,5 |
124,2 |
-24% |
| Net result from financial services |
R million |
1 334 |
1 488 |
-10% |
| Core earnings (1) |
R million |
1 913 |
1 983 |
-4% |
| Normalised headline earnings (2) |
R million |
1 254 |
3 126 |
-60% |
| Headline earnings |
R million |
1 955 |
2 745 |
-29% |
| Group administration cost ratio (3) |
% |
28,0 |
26,7 |
|
| Group operating margin (4) |
% |
17,8 |
22,5 |
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| Gross business volumes: |
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|
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| New business volumes |
R million |
50 985 |
49 820 |
2% |
| Net fund flows |
R million |
5 470 |
1 250 |
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| New covered business |
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| Value of new covered business |
R million |
290 |
260 |
12% |
| Covered business PVNBP (5) |
R million |
12 141 |
11 214 |
8% |
| New covered business margin (6) |
% |
2,39 |
2,32 |
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| Group Equity Value: |
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| Group Equity Value (7) |
R million |
46 539 |
51 293 |
-9% |
| Group Equity Value per share (7) |
cents |
2 254 |
2 350 |
-4% |
| Return on Group Equity Value per share (7) (8) |
% |
0,0 |
18,8 |
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| SANLAM LIFE INSURANCE LIMITED |
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| Shareholders’ fund (7) |
R million |
33 638 |
37 933 |
|
| Capital Adequacy Requirements (CAR)(7) |
R million |
8 100 |
7 525 |
|
| CAR covered by prudential capital (7) |
times |
2,8 |
3,5 |
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| Notes |
| (1) |
Core earnings = net result from financial services and net investment income
(including dividends received from non-operating associates). |
| (2) |
Normalised headline earnings = core earnings, net investment surpluses, secondary tax on companies and equity-accounted headline earnings less dividends received from non-operating associates, but excluding fund transfers. Headline earnings include fund transfers. |
| (3) |
Administration costs as a percentage of income after sales remuneration. |
| (4) |
Result from financial services as a percentage of income after sales remuneration. |
| (5) |
PVNBP = present value of new business premiums and is equal to the present value of new recurring premiums plus single premiums. |
| (6) |
New covered business margin = value of new covered business as a percentage of PVNBP. |
| (7) |
Comparative figures are as at 31 December 2007. |
| (8) |
Growth in Group Equity Value per share (with dividends paid, capital movements and cost of treasury shares acquired reversed) as a percentage of Group Equity Value per share at the beginning of the period. | |
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