FirstRand warns half-year profits could drop by up to 25%

South African lender FirstRand said on Thursday its half-year profits would likely be up to 25% lower, as the impact of the coronavirus crisis continues to hurt its operation.

The bank said its headline earnings per share – the main profit measure in South Africa – were expected to be between 20% and 25% lower in the six months to December 31 than the 294.4 cents it reported a year earlier.