July 24 2014 - Grupo de Inversiones Suramericana - GRUPO SURA has reported its results for Q2 2014, the most salient of which is as follows:

For the first half of this year, Grupo SURA's net profits came to COP 416,465 million (USD 221.4 million) showing an increase of 19.2% compared to the same period last year. Here it is worthwhile pointing out that net profits for last year included a non-recurring item worth COP 99,436 million (USD 52.9 million) corresponding to the sale of a 7.51% stake in AFP Protección. Upon excluding this operation, the overall increase would have come to 65.5%, thereby confirming Grupo SURA's well-consolidated operations level, performance and the progress made with harnessing subsidiary synergies.

This increase in profits was largely due to an enhanced level of revenues on the part of the Group's subsidiaries, as posted via the equity method, showing a growth of 161.9% for a total of COP 330,099 (USD 175.5 million).

Company assets at the end of Q2 2014 came to COP 23.4 billion (USD 12.5 billion), for an 11.2% increase versus December 2013 and 3.7% increase compared to the previous quarter. The Company's liabilities showed a drop in short-term financial obligations for this past quarter, these having been almost completely paid off from the proceeds of an issue of bonds placed in May, in keeping with the Company's strategy to extend its debt maturity profile. 

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