JSE-listed lender FirstRand expects its headline earnings per share to increase by between 1% and 5% to a range of 661 cents per share and 687 cents per share for the 12 months ending 30 June 2024.
FirstRand says while it continues to believe the historical practices of its MotoNovo business in the UK were compliant with the law and regulations in place at the time, it has to raise an accounting provision. Moneyweb earlier reported that FirstRand could potentially face costs of £319 million , representing 13% of its forecasted profits for the 2024 financial year.
Overall, group operating expenses have been well managed to mid-single-digit growth. “This is a more positive outcome than initially expected, mainly driven by FNB’s ongoing focus on cost management,” it added.
Law Law Latest News, Law Law Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: News24 - 🏆 4. / 80 Read more »
Source: News24 - 🏆 4. / 80 Read more »