Annual Report and Accounts

    RNS Number : 0222C
  Suncorp-Metway Limited
  26 August 2008
   

    News Release
    26 August 2008
    Suncorp-Metway Ltd ABN 66 010 831 722 GPO Box 1453 Brisbane QLD 4001
    Public Affairs Telephone [phone] Facsimile [phone]

    SUNCORP POSTS AFTER TAX PROFIT OF $556 MILLION, 
    UNDERLYING PERFORMANCE SOLID DESPITE CHALLENGING YEAR 

 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 POINTS 


 Net profit after tax of $556 million, with external factors significantly
 impacting the bottom line. 


 Bank profit before tax up 11.2% to $633 million, despite impacts of credit
 crunch. 


 General insurance profit before tax of $307 million, with good premium growth
 across short-tail products. 


 Wealth management underlying profit down 9.3% to $136 million. 


 Integration on track with synergy realisation in line with targets. 


 Accelerating delivery of integration end-state business model by merging
 retail and business banking operations. 


 Final ordinary dividend payment of 55 cents per share, fully franked. 


    Full-year results are available for viewing by clicking on the link below. 

    http://www.suncorp.com.au/suncorp/shareholders/_media/pdf/financial_resul ts/analyst_pack_2008.pdf


This information is provided by RNS
The company news service from the London Stock Exchange
 
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