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FirstRand expects to miss earnings targets

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Financial services group says it will not meet its target of above-inflation growth

Alan Pullinger, CEO of Wesbank owner Firstrand, is gearing up for tougher conditions. Picture: FREDDY MAVUNDA

“As a large systemic financial services group FirstRand is not immune to the serious macroeconomic challenges facing SA, and the damaging impact of ever declining GDP growth is becoming evident in all of the group’s customer segments in SA,” CEO Alan Pullinger said. FirstRand’s profit for the six months to end-December rose 7% to R14.95bn, with the group raising its interim dividend 5% to 146c.

 

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