As you may have read, Liberty already issued a market update through the JSE last week, indicating that our 2010 earnings were likely to be between 890c and 980c per share. This compares with BEE-normalised earnings of 47.2c for 2009.
Liberty's share price moved up more than 5% last week - the JSE's Top40 index fell 1.8% over the same period.
The media has also given favourable coverage to Liberty's forthcoming results. For example:
"Liberty expects earnings leap"
"Upbeat insurers indicate a recovery"
These results are also particularly significant in reflecting the first full year of business operations since we took decisive action to address strategic issues identified some two years ago, when we resolved to:
1. Strengthen our insurance business, address persistency issues and develop strategies to improve sales productivity;
2. Diversify our operations in terms of geography and business lines;
3. Achieve excellence in our balance sheet and capital management.
I am looking forward to paying tribute to and sharing our 2010 annual results with you.
Kind Regards,
Bruce Hemphill
