Great Eastern's Q2 profit down 63%
Non-operating deficit up; disposal loss of S$18.7m vs gain of S$119.9m in 2Q15
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Singapore
GREAT Eastern Holdings' second-quarter net profit tumbled as unfavourable market conditions raised non-operating loss and the group registered a S$18.7 million loss on the disposal of its Vietnam subsidiary, against a S$119.9 million gain a year ago from the partial sale of its stake in New China Life Insurance Company.
The three months ended June 30 saw profit attributable to shareholders down 63 per cent at S$102.2 million, translating to earnings per share (EPS) of S$0.22, down from S$0.58 a year ago. The insurance arm of OCBC Group maintained its interim dividend at 10 Singapore cents per share, payable on Sept 2.
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