According with the Old Mutual report its earnings per share increased on 21% from 5.6p per share in first half of 2003 to 6.8p same period this year.

    The net assets and Return on Equity of the company by the end of June grew on 12% and 3% correspondently and formed 130 billion pounds ($230 billion) as net assets and 19% as ROE.

 

    By the opinion of Mr. Jim Sutcliffe, Old Mutual chief executive, the second half results will be even higher and a lot of efforts made in first half of 2004 will yield fruit.

    The Old Mutual activity result is better than it was forecasted by a lot of financial analysts, taking into consideration smaller life-insurance sales in comparison with planned. Mr. Sutcliffe confessed that he was disappointed by the results of life insurance sales in South Africa.

 

    Old Mutual also considers US as an interesting and perspective market to work, however by the words of Mr. Sutcliffe, company will not “pay unreasonable price for this”.