* H1 diluted HEPS rises to 714 cents from 600 cents
* Non-interest revenue at R8.27 bln from R7.14 bln
* Shares up 25 percent this year
(Adds details)
JOHANNESBURG, Aug 1 (Reuters) – South Africa’s Nedbank Group
reported an expected 24 percent jump in first-half
profit on Wednesday, helped by a surge in fees and commissions
and said it was on track to meet full-year targets.
Diluted headline earnings per share rose to 741 cents in the
six months to end-June, up from a total 600 cents a year
earlier.
Headline EPS, which exclude certain one-time items, are the
main gauge of profit in South Africa.
Nedbank said last month it expected first-half profit growth
of up to 26 percent.
Bigger rival Absa Group has already reported a 6
percent drop in profit for the first half, hurt by
non-performing mortgages.
Nedbank, which is majority owned by insurer Old Mutual
, has turned its retail unit around following losses
induced by a 2009 recession.
Continued…
