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Great Eastern

Stock Chart
Last Done 21.900
Change +0.190 (+0.88%)
Volume 10.8
Range 21.540 - 21.910

Related News

Great Eastern Q2 net profit down 29% on non-operating losses

03 Aug 2019 09:00

By Ng Ren Jye

GREAT Eastern Holdings' second-quarter net profit fell 29 per cent to S$169 million from S$237.6 million for the same year-ago period on the back of non-operating losses.

The insurer turned in a non-operating loss of S$26 million versus a profit of S$15.3 million previously. Great Eastern attributed the loss to "higher valuation of long-term insurance contract liabilities" due to "a decline in the discount rate used to value these liabilities".

The loss offset better investment performance and a operating profit of S$161.7 million, which increased 3 per cent from S$156.7 million in the same period last year.

Earnings per share slipped to S$0.36 for the quarter to June 30, from S$0.51 for the previous corresponding period.

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Source: Business Times

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