{"id":14259,"date":"2012-09-04T15:42:19","date_gmt":"2012-09-04T13:42:19","guid":{"rendered":"http:\/\/www.myza.co.za\/09\/update-1-s-africas-firstrand-sees-higher-profit-shares-jump\/"},"modified":"2012-09-04T15:42:19","modified_gmt":"2012-09-04T13:42:19","slug":"update-1-s-africas-firstrand-sees-higher-profit-shares-jump","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-s-africas-firstrand-sees-higher-profit-shares-jump\/","title":{"rendered":"UPDATE 1-S.Africa&#8217;s FirstRand sees higher profit, shares jump"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>(Adds analyst, detail)<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Earnings seen 22-27 pct higher<\/p>\n<p><span><\/span><\/p>\n<p>* Shares rise 2 pct<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, Septa 4 (Reuters) &#8211; FirstRand Ltd,<br \/>\nSouth Africa&#8217;s second-largest bank, said  on Tuesday its<br \/>\nfull-year earnings likely rose by as much as 27 percent, sending<br \/>\nits shares higher.<\/p>\n<p><span><\/span><\/p>\n<p>FirstRand said it expects diluted normalised earnings per<br \/>\nshare to increase by between 22 to 27 percent from 179.4 cents<br \/>\nfor the year to end-June. A poll of 17 analysts by Thomson<br \/>\nReuters showed an average forecast for 20 percent profit growth.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;It&#8217;s an excellent performance, a very good result. It&#8217;s<br \/>\ndefinitely better than consensus,&#8221; said Adrian Cloete, an<br \/>\nanalyst at Cadiz Asset Management.<\/p>\n<p><span><\/span><\/p>\n<p>The bank did not give a reason for the expected rise in<br \/>\nprofit. Earnings likely rose as a result of a strong performance<br \/>\nby the retail arm First National Bank (FNB) and vehicle<br \/>\nfinancing unit Wesbank, Cloete said.<\/p>\n<p><span><\/span><\/p>\n<p>FNB has waged a fierce campaign for its competitors&#8217;<br \/>\ncustomers, which analysts expect will boost its non-interest<br \/>\nrevenue.<\/p>\n<p><span><\/span><\/p>\n<p>FirstRand is due to report full-year results on September<br \/>\n11. Its local rivals, all of whose financial year end in<br \/>\nDecember, have so far reported leaner first-half results.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Adds analyst, detail) * Earnings seen 22-27 pct higher * Shares rise 2 pct JOHANNESBURG, Septa 4 (Reuters) &#8211; FirstRand Ltd, South Africa&#8217;s second-largest bank, said on Tuesday its full-year earnings likely rose by as much as 27 percent, sending its shares higher. FirstRand said it expects diluted normalised earnings per share to increase by [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-14259","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14259","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=14259"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14259\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}