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Africa, News

S.Africa’s Absa warns half-year profits could fall by close to 100%

JOHANNESBURG (Reuters) – South African lender Absa said on Wednesday its profits for the six months to June 30 could plunge by as much as 97% as the impact of the coronavirus crisis dents its performance.

Absa said its headline earnings per share – the main profit measure in South Africa – for the six months to June 30 would fall by between 92% and 97% compared to the 920 cents it reported a year earlier.

(Reporting by Emma Rumney; Editing by Promit Mukherjee)

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