QBE produces £200m profit in first half
QBE Insurance Group today announced a record profit after tax of AUS$491m (£207m) for the half year to 30 June 2005, an increase of 43% on the profit after tax of AUS$343 million for the same period last year. Profit before tax was up 57% to AUS$675 million. The results have been prepared applying the Australian equivalents to International Financial Reporting Standards and comparatives have been restated.
Diluted earnings per share increased 32% to 59.2 cents per share. The return on average shareholders’ funds was 23.0% compared with 22.1% for the same period last year.In view of the results, the
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