The growth in net profit was attributed by A$63m ($67m) gain on property sales, and factors in a A$106m ($112.9m), loss on the disposal of some subsidiaries in the previous corresponding period.
For the six months ended 31 December 2011, its revenues grew 0.5% to A$8.12bn ($8.64bn), but the company’s general insurance net profit declined to A$162m ($172.5m), against $292m ($311m), during the same period a year ago.
Suncorp banking division reported a ‘core’ net profit of A$156m ($166m), up A$46m ($48m), from A$110m ($117m).
The A$156m ($166m), core bank profit was offset by A$54m ($57m), loss at its non-core bank that nevertheless narrowed from a A$107m ($113.9m), loss a year earlier, which reflects that the overall banking division was able to post a net profit of A$102m ($108m) during the first half of fiscal 2011.
