UPDATE 1-Nordic financial group Sampo beats Q1 profit forecasts [Reuters (UK)]
TOPDANMARK AS UNSP/ADR (TPDKY)
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Source: Reuters
UPDATE 1-Nordic financial group Sampo beats Q1 profit forecasts - Reuters 2 Min Read (Adds details) HELSINKI, May 8 (Reuters) - Financial group Sampo posted a 7 percent rise in first-quarter profit on Wednesday, boosted by its Danish insurer and a rebound in equity markets, although its main pan-Nordic insurance business missed forecasts. Sampo’s first quarter pre-tax profit of 475 million euros ($533 million) comfortably topped analyst expectations in a Reuters poll ranging from 362 million to 469 million euros. Sampo’s share of pre-tax profit from Topdanmark, the Danish insurer in which it owns a 46.7 percent stake, grew 53 percent from a year ago to 92 million euros, beating all analyst forecasts in the poll. However, Sampo’s main insurance business, If, missed forecasts with a 3 percent rise in pre-tax profit to 198 million euros. Sampo’s 21.2 percent stake in Nordea netted it 83 million euros, roughly half the amount of a year ago, after the Nordic region’s biggest lender booked
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