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OCCUPANCIES at insurance giant Old Mutual’s properties continue tumbling as voids during the first three months of the year rose to 19 percent from 17 percent a year ago.
Market watchers believe that the tough economic conditions continue to have a toll on business.
However, chief executive officer Mr Jonas Mushosho indicated today at the company’s annual general meeting (AGM) that the overall group’s performance was “commendable”, driven mainly by the life and banking division.
Stockbrokers MMC Capital regard CABS, a unit of the business, as one of the best performing banks in the Tier I category, holding 14,09 percent of the market.
“We run an integrated and diversified financial services group, and therefore the group has capacity to absorb shocks that happen in a difficult environment.
“In that regard, our first quarter performance has been very satisfactory,” said Mr Mushosho.
Online Reporter