Topdanmark tops Q3 profit fcast, ups full-year guidance

COPENHAGEN Tue Nov 13, 2012 6:27am EST

Related Topics

COPENHAGEN Nov 13 (Reuters) - Danish insurance company Topdanmark beat expectations for the third quarter and bumped up its guidance for full-year net profit on Tuesday.

Third-quarter net profit surged to 523 million Danish crowns ($89.14 million) from a loss of 53 million in the corresponding period last year, beating forecasts of 345 million crown profit in a Reuters poll of analysts.

Topdanmark said it expected full-year 2012 net profit to be between 1.55 billion and 1.65 billion Danish crowns instead of a previously guided range of 1.30 billion to 1.40 billion crowns.

The company also expanded its buy-back programme for 2012 by 250 million crowns to 1.7 billion crowns.

($1 = 5.8670 Danish crowns) (By Johan Ahlander)

FILED UNDER: