Results demonstrate robustness of Group’s performance
Momentum Metropolitan Holdings (share code: MTM) has been approved for a secondary listing on A2X Markets and will list on 5 August 2020. Momentum Metropolitan will retain its listings on the Johannesburg Stock Exchange (JSE) and the Namibian Stock Exchange and the Group’s issued share capital will be unaffected by its secondary listing on A2X.
Momentum Metropolitan showed good operational performance during the third quarter of their financial year (January to March 2020), slightly better than the previous two quarters. Excluding the impact of market-related items in March, earnings from operations for the quarter were R947 million.
Momentum Metropolitan notes with sadness the passing of Dr. Clarence Mini, Chairperson of the Council for Medical Schemes (CMS).
The Momentum Metropolitan Foundation, formerly known as the MMI Foundation, is deeply saddened and shocked at the sudden and untimely passing of HIV scientist and researcher Professor Gita Ramjee in Umhlanga, Kwa-Zulu Natal on 31 March 2020.
South African non-profit organisation Gift of the Givers has announced a partnership with Momentum Metropolitan Holdings to establish a drive-through testing facility at its Cape Town regional head office in Bellville. The building’s open-top parking lot will be turned into a drive through testing facility to provide safe and efficient testing for the COVID-19 virus following President Cyril Ramaphosa’s announcement on Monday, 30 March to elevate the efforts in testing communities to aggressively flatten the curve of the pandemic.
In response to a defined and definite national need, Momentum Metropolitan in 2018 sharpened its CSI focus to wholly concentrate on finding workable and sustainable solutions to place young people into gainful jobs. Driven by the Momentum Metropolitan Foundation, the company to date has placed 927 young people into employment. Training for a further 840 candidates is in the pipeline.
Momentum Metropolitan Holdings has partnered with Government and the National Department of Health (NDOH) to provide financial support and offer resources to support the various initiatives aimed at preventing and containing the impact of COVID-19 on all South Africans.
Eighteen months into its three-year Reset and Grow turnaround strategy, Momentum Metropolitan Holdings (JSE: MTM) again reported good operational results – amidst a challenging economic environment. At its interim results announcement today, the Group reported that it had increased diluted normalised headline earnings to R1.8 billion – signifying double-digit growth of 10% year-on-year. On a per share basis, diluted normalised headline earnings increased by 12% to 118 cents. Momentum Metropolitan also declared an ordinary dividend of 40 cents per ordinary share, an increase of 14% on the prior year.
For the second consecutive year, the Momentum Metropolitan Holdings Group (MomMet) has retained its Level 1 Broad-Based Black Economic Empowerment (B-BBEE) status under the revised Financial Sector Code (FSC).
