Suncorp lifts half-year profit expectations
Suncorp expects improved half year to December 31, 2009 results due to a strong contribution from its general insurance business.
In an Australian Securities Exchange announcement, the group stated its preliminary expected results for the half year to December 31, 2009 would be up from a net profit after tax of $258 million in the same period in 2008 to between $355 million and $375 million.
The strong contribution from the general insurance business was a result of more favourable weather conditions (limiting claims) and enhanced returns from investment portfolios, Suncorp stated.
Detailed results for the half year to December 31, 2009 will be presented later in the month.
AUTHOR
Caroline Munro
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