By BUUMBA CHIMBULUABSA Group expects an improved macro-economic backdrop this year following a 51 percent decline in normalised headline earnings, as it provides relief to over 670,000 customers.The group looks forward to playing its role in the recovery of the global economy and re-setting for the future, says group Chief Executive, Daniel Mminele.“While there is some way to go before economies stabilise, the roll-out of vaccines globally hold the promise of greater stability and we look forward to playing our role in the recovery and re-setting for the future,” Mr Mminele said in the 2020 Financial Statement for the group released yesterday.Meanwhile, the group reported a 51 percent decline in normalised headline earnings to R8 billion after impairments nearly trebled to R20.6 billion amid the economic downturn that was precipitated by the Covid-19 pandemic.The group’s headline earnings fell 82 percent in the first half of 2020 compared with the first half of 2019.Headline earnings in […]
Absa projects improved outlook
