Minimal guidance from Suncorp
Suncorp published high-level guidance on its profit for the December 2009 half year yesterday. The financier expects net profit to be between $355 million and $375 million.The group said the rise in profit, from the December 2008 half, was primarily due to an increased profit from general insurance.Suncorp reported a full year net profit, in the year to June 2009, of $348 million. Very weak earnings from the banking business, thanks to steep impairment charges, explained much of the fall.The group did not mention any aspect of the expected earnings of the bank in yesterday's update. Suncorp releases its full year profit on Wednesday 24 February.