Finance company Suncorp
(ASX:SUN) reported net profit is down 44.7 per cent to $250 million from $452 million for the first half of 2018.
This was due to a writedown and a spike in natural-disaster claim costs.
Total revenue increased by 4.3 per cent to $7.51 billion from the prior corresponding period.
Cash earnings down 12.5 per cent to $413 million from $472 million in the first half of 2018.
A dividend of 26 cents per share was declared.
Citi bank's analyst profit target for Suncorp was $476 million.
Shares in Suncorp
(ASX:SUN) are trading 5.11 per cent lower to $12.80.
