Suncorp Group (ASX:SUN) NPAT up 422% YoY

21Aug

Suncorp Group (ASX:SUN) NPAT up 422% YoY

 

Suncorp Group (ASX:SUN) net profit after tax was up around 422 per cent year on year to $913 million.

Cash earnings were down around 33 per cent to $749 million. This was a result of reduced profit from the Australian Insurance (down 33.9 per cent) and Banking & Wealth divisions (down 33.5 per cent).

Its insurance division in Australia recognised $85 million in additional claims provisions and risk margins to cover Covid 19 uncertainty, including landlord loss of rent and potential business interruption claims.

The board has declared a fully franked final ordinary dividend of 10 cents per share, down from 44 cents at this time last year. This brings the full year dividend payout to 36 cents.

Shares in Suncorp Group (ASX:SUN) are trading 8.29 per cent higher at $9.41.
 
Copyright 2020 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

24Mar

Perenti (ASX:PRN) sees no impact on financials from COVID-19 so far

24 Mar 2020 - Perenti (ASX:PRN) reports that to date COVID-19 has had no impact on Perenti’s financial performance.

Read More
02Sep

Moelis announces selective share buyback

03 Sep 2019 - Financial advisory business Moelis Australia (ASX:MOE) has today announced its entered into a binding buyback agreement with Moelis & Company (NYSE:MC) to purchase 8 million Moelis shares from M&C via a selective buyback at a price of $3.40 per share.

Read More
04May

Stocks of the Hour: Vulcan Energy Resources, Caspin Resources, Tyranna Resources

04 May 2023 - A snapshot of the stocks on the move featuring Vulcan Energy Resources (ASX:VUL), Caspin Resources (ASX:CPN) and Tyranna Resources (ASX:TYX).

Read More
31Aug

NAB (ASX:NAB) agrees to sell its MLC Wealth business to IOOF for $1.44 billion

31 Aug 2020 - NAB (ASX:NAB) is set to sell its MLC Wealth business to IOOF for $1.44 billion.

Read More
01May

Sandfire Resources (ASX:SFR) to snap up the Namibian exploration properties

01 May 2020 - A subsidiary of Sandfire Resources (ASX:SFR) has executed a binding agreement to snap up the Namibian exploration properties of ASX listed copper and silver prospector, Kapore Metals (ASX:KMT).

Read More
05Mar

Eclipx (ASX:ECX) makes executive changes with three new appointments

05 Mar 2020 - Eclipx (ASX:ECX) has made three new appointments to the executive team; Damien Berrell as Group CFO, Dom Di Gori as Treasurer and James Allaway as Group Head Strategy, Restructuring and M&A.

Read More
31Jul

Woolworths (ASX:WOW) converts Marley Spoon (ASX:MMM) bonds

31 Jul 2020 - Woolworths (ASX:WOW) announced its venture capital arm, W23, has converted its $2.95 million convertible bond into 5.9 million CHESS depository interests in meal box delivery company Marley Spoon (ASX:MMM).

Read More
22Oct

Orocobre (ASX:ORE) announces record production at Olaroz facility

22 Oct 2019 - Orocobre (ASX:ORE) has announced record first quarter production of 3,093 tonnes at its Olaroz lithium facility. The result is 35 per cent higher than the year earlier period.

Read More
21Jan

Pact Group Holdings (ASX:PGH) plan to divest its Contract Manufacturing division

21 Jan 2020 - Pact Group Holdings (ASX:PGH) has started a sale process in respect of its Contract Manufacturing division.

Read More
17Sep

Paul Ramsay Foundation sells 22 million Ramsay Healthcare shares

17 Sep 2019 - Ramsay Health Care's (ASX:RHC) share price is down over 5 per cent after the company today revealed that the Paul Ramsay Foundation is reducing its stake in the private hospital operator.

Read More