Tower reported a 16 percent rise in net profit to $58.1 million for the year to the end of September.Good growth was reported by the Health&Life and General Insurance businesses, while Investments reported a lower profit reflecting significant restruc
Tower reported a 16 percent rise in net profit to $58.1 million for the year to the end of September.
Good growth was reported by the Health&Life and General Insurance businesses, while Investments reported a lower profit reflecting significant restructuring expenses and tighter margins, the company said today.
Revenue rose 17 percent to $604.6m, while total equity increased to $441.3m from $404.4m.
Net asset backing per share increased to $1.69 from $1.59, and gearing -- debt to debt plus equity -- improved to 15.4 percent from 16.5 percent, Tower said.
A fully imputed final dividend of 6c per share is to be paid, taking the total dividend for the year to 10cps cents, up 11 percent from last year.
