Sampo pretax profit flat, helped by Nordea
HELSINKI May 8 (Reuters) - Finnish insurance and investment group Sampo reported flat first-quarter pretax profit, as low interest rates weighed on returns from fixed-income investments, although it reaped hefty returns from its stake in Nordic bank Nordea.
Sampo reported a quarterly pretax profit of 370 million euros ($484.2 million), little changed from a year earlier. Analysts expected 372 million euros, according to a Reuters poll.
It said its full-year results would likely be "good", but warned that low interest rates were making it tough for reinvestment in fixed-income assets. ($1 = 0.7642 euros) (Reporting by Ritsuko Ando; Editing by David Holmes)
- Exclusive: Angry with Washington, 1 in 4 Americans open to secession
- Secret Service investigates after man jumps White House fence, reaches doors
- About 60,000 Syrian Kurds flee to Turkey as Islamic State advances |
- French jets strike in Iraq, expanding U.S.-led campaign against Islamic State |
- Scots spurn independence in historic vote, devolution battle begins |