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...
If you are a non-subscriber but would like to be able to view this article, then please go to our Publications page for further information on joining our readership