Kenya-based Old Mutual Holdings Plc has reported a significant decline in its half-year profitability for the period ending June 30, 2025. The companys profit after tax dropped by 98 per cent to USD 38,714, from USD 1,927,990 in the same period last financial year.
The report, released on August 26, 2025, lists a drop in its insurance revenue, among other factors, as the reason for its poor performance. Insurance revenue declined by 2.4 per cent to USD 127 million. Old Mutual's total insurance service result recorded a loss of USD 2.4 million, compared to a loss of USD 1.9 million in the same period last year.
Other reasons for the loss include operational challenges: The companys operating profit before finance costs fell by 41.2 per cent to USD 7.4 million. This was a result of higher finance costs and commission expenses, among others. Additionally, a lower interest rate environment compressed investment yield.
