Suncorp Metway profits halved
Posted
Suncorp Metway says the volatility on global stock markets and higher insurance claims for bad weather have affected its bottom line.
The country's second largest car and home insurer says after tax profit for the 2008 financial year fell by half to nearly $560 million.
Investors will get a final dividend of 55 cents a share fully franked.
The company has warned that bad debts could rise but it says losses are expected to be lower than at the major banks.
About 2:30pm AEST, Suncorp shares were down nearly 2 per cent to $12.57.
