A Towering Success
The Age
Friday November 28, 2008
SPECIALIST Life Insurer Tower Australia has increased net profit after tax by 69per cent, reporting a full-year result of $68.7million. Underlying profit, excluding non-cash items, was $67.9million - a 14per cent increase.
Based on the underlying profit, the company reported 20.2 profit per share.Shares rose as much as 13.5per cent and closed 12, or 6.3per cent, higher at $2.04.Chairman Rob Thomas said the company was well capitalised, with low debt. --VANESSA O'SHAUGHNESSY
© 2008 The Age
