LONDON, Feb. 12, 2002 (PRIMEZONE) -- Nedcor Ltd ("Nedcor"), the South African banking group, in which Old Mutual plc ("Old Mutual") (LSE:OML) has a 51% holding, has today issued financial results for the year ended December 31, 2001.
The full text of the Nedcor announcement is available on SENS, the JSE Securities Exchange News Service and on Old Mutual's website, www.oldmutual.com. The results have been drawn up in accordance with South African Generally Accepted Accounting Practice (GAAP) and will be consolidated in the accounts of Old Mutual in accordance with UK GAAP. Old Mutual will release its preliminary results on February 25, 2002.
Commenting on Nedcor's results, Jim Sutcliffe, chief executive of Old Mutual said: "These are very strong results which have been achieved in a challenging environment."