04 May '11, 10am

S'pore's Great Eastern Q1 net down 11 pct y/y; sales up 33 pct: SINGAPORE, May 4 (Reuters) - Singapore insurer G...

SINGAPORE , May 4 (Reuters) - Singapore insurer Great Eastern Holdings said on Wednesday its first quarter net profit fell 11 percent year-on-year, hurt by smaller investment income and higher expenses. The firm reported net profit of S$158.7 million ($129.2 million) in the quarter ended March 31, 2011. The lower earnings were offset by sales growth of 33 percent across its main markets of Singapore, Malaysia and China . Great Eastern is about 87-percent owned by Singapore's Oversea-Chinese Banking Corp . ($1 = 1.228 Singapore Dollars ) (Reporting by Eveline Danubrata; Editing by Kevin Lim)

Full article: http://sg.news.yahoo.com/spores-great-eastern-q1-net-down...

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