Suncorp NPAT falls 83.5%

Company News

by Rachael Jones

Suncorp (ASX:SUN) says its annual profit fell 83.5 per cent from a year ago to $175 million. It was $1,059 million in FY18.

This includes a $910 million after tax non-cash loss on sale of the Australian Life Insurance and Participating Wealth Business.

Cash earnings increased 1.5 per cent to $1.1 billion from financial year 2018.

Suncorp has established a new Customer & Digital team as a result of the organisation changes announced today CEO Customer Marketplace Pip Marlow has decided to leave the business effective end of August.

An additional 39 cents per share capital return for October 24 and a related share consolidation.

Shares in Suncorp (ASX:SUN) are trading 3.93 per cent higher at $13.21.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.