Suncorp-Metway has announced first-half profit rose as much as 45 per cent as its insurance business benefitted from more favourable weather conditions and higher investment returns.
Net income in the six months to Dec. 31 was between $355 million and $375 million, the Brisbane-based company said in a statement today using unaudited figures. In the same period a year ago it earned $258 million.
The result is subject to completion of the financial accounts and external audit, with detailed results for the period scheduled for February 24.
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Suncorp shares, which were
raised to “buy” at UBS AG this month and Deutsche Bank AG last month, have
climbed 2.9 per cent this year to close yesterday at $8.94.
