Tower Posts Higher Fiscal H1 Earnings, Insurance Revenue

MT Newswires Live
05-20

Tower (ASX:TWR, NZE:TWR) reported Tuesday that its earnings per diluted share in the fiscal first half rose to NZ$0.13 from NZ$0.094 a year earlier.

Analysts polled by Visible Alpha expected NZ$0.114.

Insurance revenue for the six months ended March 31 was NZ$295.8 million, up from NZ$269.4 million in the same period a year earlier. Analysts surveyed by Visible Alpha expected NZ$292.7 million.

Gross written premium for the first half was NZ$297 million, up from NZ$291 million a year earlier. Analysts surveyed by Visible Alpha expected NZ$303.6 million.

The board declared an interim dividend of NZ$0.08 per share, up from NZ$0.03 a year earlier, payable on June 26 to shareholders on record as of June 12.

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