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23 November 2017

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Brit 2016 profit surges on improved investment return

Catrin Shi 17 February 2017

Brit full-year operating profit bounced to $175.0mn for 2016 following a much-improved investment return and more favourable foreign exchange effects during the course of the year.

In 2015, the Fairfax-owned company reported an operating profit of $28.3mn, after it took a loss of $95.9mn on foreign exchange movements. This loss was not repeated in 2016.

The investment return improved significantly in 2016 to $102.9mn, or 2.6 percent, from $5.0mn, or 0.1 percent, the previous year.

Brit said it had benefitted...


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