2337 GMT - Suncorp shares are up 4.2%, the second-highest gainer on Australia's benchmark ASX 200 index, after its 1H earnings beat expectations. Suncorp reported a A$1.1 billion net profit, well above Citi's A$990 million forecast. "While most of the beat is due to favorable weather, there is also a slightly stronger result from NZ Life and slightly stronger than expected net insurance revenue growth," analyst Nigel Pittaway says. Citi, which has a neutral call on Suncorp, says the capital return to shareholders from proceeds of selling Suncorp Bank to ANZ looks in line with expectations. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 11, 2025 18:37 ET (23:37 GMT)
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