Suncorp FY16 Earnings Result

Suncorp’s (SUN.ASX) FY16 earnings result was below consensus with core earnings of $1.1b. Total FY16 GI margins were down on the same time last year. Banking profit of $390m was ahead of consensus.

FY17 outlook for $1.2b profit with 2- 3% EPS growth and dividends per share (DPS) of $0.76 placing the stock on a forward yield of 5.8%

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