QLD based financial services company, Suncorp (SUN), announced a 32% fall in FY13 (July 2012 - June 2013) profit to $491m

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QLD based financial services company, Suncorp (SUN), announced a 32% fall in FY13 (July 2012 - June 2013) profit to $491m. The result was worse than consensus but in line with SUN's own weaker guidance flagged mid-July. SUN's bottom line has been impacted by Cyclone Oswald (as was QBE), the sale of its non-core bank assets ($632m loss) & a 76% drop in earnings from its life insurance business. A $0.30ps dividend and a $0.20ps special dividend was already announced by SUN at the end of July (thanks to the sale of its banking assets. Visit (VIEW LINK) for more information.

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CommSec is Australia's leading online broker. CommSec has been committed to providing the best in online trading since 1995. CommSec helps make informed investment decisions with comprehensive market research, free live pricing and powerful...
Expertise
No areas of expertise