Financial giant Old Mutual (LON:OML) saw shares sink in early trading on Friday, despite reporting strong figures for the first half.

Pre-tax operating profits jumped to £969 million, from £708 million the year previously, increasing its interim dividend by 32 per cent to 3.53 pence.

Earnings per share rose 33 per cent to 10.6p.

The company’s share price sunk on the news however, as investors question whether the company is really on the road to recovery after being hit badly by a fall in the South African rand earlier this year.

In a statement, the company said its main markets “remain subject to significant political and economic uncertainties but our businesses are well managed and resilient”.