Financial services group, Suncorp, has confirmed a half-year net profit after tax of $364 million. This represents an impressive 41 per cent increase on the same period last year.
Suncorp Group chief executive Patrick Snowball, while pleased by the increased profitability, said the Group would keep a cautiously conservative approach to managing the business over the short term.
“Although there is still a lot of hard work ahead of us to ensure Suncorp realises its full potential, this result has laid a sound foundation for the Suncorp Group’s future success” Mr Snowball said.
“We have achieved our immediate priority of stabilising the Suncorp Group’s position, we have reinforced our capital and reserve positions and a new executive team has been appointed. Our priority now is to drive improved financial results from all of our businesses.”
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