February 27, 2018 / 3:00 PM / in 8 months

Net profit at Colombia's Grupo Sura fell 13 pct in 2017

BOGOTA, Feb 27 (Reuters) - Colombian investment holding company Grupo SURA reported a drop of 13 percent in net profit on the year in 2017 to 1.45 trillion pesos ($508.7 million), the company said on Tuesday.

The fall was due to higher interest charges, non-recurring costs and exchange rate variations, the company said in a filing to the Andean country’s financial regulator.

Total income rose 12 percent to 20.4 trillion pesos last year, while costs grew 14.5 percent to 18.6 trillion pesos.

In the fourth quarter, net profit more than doubled to 357.1 billion pesos, from 176.3 billion in the same period of 2016, Grupo Sura said.

The company has shares in Bancolombia, Grupo Argos , Nutresa, and the pension fund Proteccion , among other companies.

$1 = 2,849.91 Colombian pesos Reporting by Nelson Bocanegra; Writing by Julia Symmes Cobb Editing by Helen Murphy and Bernadette Baum

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