(RTTNews) - $Suncorp Group Ltd (SUN.AU)$ reported that its group net profit after tax for fiscal year 2024 rose to A$1.197 billion from A$1.071 billion in the prior year. Cash earnings increased to A$1.372 billion from A$1.177 billion last year.
Suncorp Bank, which was sold to ANZ on 31 July, contributed net profit after tax of A$379 million compared to A$470 million last year .
For fiscal year 2025, Suncorp Group expects gross written premium growth to be in the mid to high single digits as the reinsurance market stabilizes and inflationary pressures ease slightly in some portfolios.
The company has declared a final fully franked dividend of 44 cents per share, representing a payout ratio of 72% of cash earnings for the full year.
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