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

CommSec

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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