Absa Profit Climbs 12% to Record 24.8 Billion Rand as Africa Growth Surges [Yahoo! Finance]
ABSA GROUP LTD S/ADR (AGRPY)
NASDAQ:AMEX Investor Relations:
absa.co.za/about-us/absa-bank/investor-relations
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Source: Yahoo! Finance
This article first appeared on GuruFocus Absa Group ( AGRPY reported record earnings as the lender benefited from stronger momentum outside its home market of South Africa. Headline earnings rose 12% to 24.8 billion rand ($1.5 billion), according to a filing Tuesday, as the Johannesburg-based bank continued to expand its regional footprint across the continent. The company also declared a final dividend of 8.50 rand per share, bringing the total payout for the year to 16.35 rand, which the bank said represents its highest annual distribution on record. Warning! GuruFocus has detected 1 Warning Sign with AGRPY. Is AGRPY fairly valued? Test your thesis with our free DCF calculator. Growth across Absa's rest-of-Africa operations appeared to be a key contributor to the results. Profit in the division advanced 51% to 2.52 billion rand and now accounts for about 10% of overall headline earnings. The expansion across the region helped offset more moderate performance in other parts
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