Suncorp flags 40% profit hike
February 9, 2010
Suncorp-Metway Limited (SUN) said it expected to report a post-tax profit of between $355 million and $375 million when it reports half-year results on 24 February.
The result would be around 40% higher than the previous half-year profit of $259 million.
Suncorp-Metway said the improved result was due to “strong contribution from the General Insurance business which has benefited from more favourable weather conditions and enhanced returns from the investment portfolios.”
At the close Tuesday, Suncorp shares were $8.94 each.
The result would be around 40% higher than the previous half-year profit of $259 million.
Suncorp-Metway said the improved result was due to “strong contribution from the General Insurance business which has benefited from more favourable weather conditions and enhanced returns from the investment portfolios.”
At the close Tuesday, Suncorp shares were $8.94 each.
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