Genworth Australia H1 net profit up 41 pct
SYDNEY, July 30
SYDNEY, July 30 (Reuters) - Home-loan insurer Genworth Mortgage Insurance Australia Ltd on Wednesday posted a 41 percent rise in first-half net profit, its first earnings report since listing two months ago.
Genworth, which provides insurance to mortgage lenders, mostly for high loan to value residential mortgages, reported a net profit for the six months-ended June of A$133.1 million ($124.90 million), up from A$94.6 million a year ago.
The company made a strong debut on the Australian Stock Exchange in May after U.S. financial services giant Genworth Financial Inc sold 34 percent of its Australian business to raise A$583 million ($545 million). ($1 = 1.0656 Australian Dollars) (Reporting by Swati Pandey; Editing by David Gregorio)
- U.S., backed by Arabs, launches first strikes on fighters in Syria |
- Qatar adamant it will host 2022 World Cup despite doubts
- Argentina's Fernandez to meet billionaire investor Soros in New York
- Ebola could strike 20,000 in six weeks, 'rumble on for years': study
- Euro data hits stocks, China reading soothes commodities