Old Mutual 2014 profits rise 16 percent

We're expanding in Africa: Old Mutual boss

Anglo-South African financial services firm Old Mutual said on Friday its operating profit for 2014 rose 16 percent to 1.6 billion pounds ($2.47 billion), just above analysts' expectations.

Adjusted operating pre-tax profits in constant currency terms were forecast at 1.56 billion pounds in a poll provided by the company.

Net client cash flow was 4.9 billion pounds, with funds under management rising 6 percent in constant currency terms, to 319 billion pounds.

The firm said it would pay a final dividend of 6.25 pence per share, with a total dividend of 8.7 pence, in line with forecasts.