Full-year results to 30 June 2008
Group Highlights | Downloads | Media Release | Webcast
Group Highlights
Diversified financial services group Suncorp today reported a net profit after tax (NPAT) of $556 million for the full year to 30 June 2008. The result featured solid underlying business performance, which was significantly impacted by volatile investment markets and adverse weather conditions.
Key highlights of the full year result included:
- Bank profit before tax increased by 11.2% to $633 million. The result was at the top end of guidance and featured margin stabilisation in the second half, as well as maintenance of disciplined credit practices.
- General insurance profit before tax of $307 million, significantly down on last year’s figure of $835 million after severe weather events and volatile investment markets impacted the bottom line. All insurance brands continued to perform well, achieving good premium growth across short tail products.
- Underlying profit of $136 million for the wealth management business, down 9.3% on the 06/07 pro-forma result.
- $104 million in synergy benefits realised in FY08, on track to achieve upgraded net annual integration synergy estimate of $325 million.
Downloads
For more information simply click on the links below. To do this you will need Adobe Acrobat Reader, available free from the Adobe Acrobat site.
Full-Year Results 2008 Analyst Pack (PDF, 476Kb)
Presentation (PDF, 2Mb)
Media Release (PDF, 99Kb)
Webcast
To view previous half year and annual results, please go to the financial results archive.
