***overview of results***

In all seriousness these results demand everyone's attention. Please take note of the following announcement, Suncorp Metway is going to roar big time so please do yourself a favour and consider this company.

Suncorp-Metway optimistic after 61pc rise in profit
08:52, Friday, 27 August 2004

Sydney - Friday - August 27: (RWE Australian Business News) -
Diversified financial services group Suncorp-Metway Ltd lifted net
profit 61 per cent to a record $618 million in the 12 months to June 30
from $384 million for the previous year.
Revenue rose 15 per cent to $5.93 billion.
Basic earnings per share were 112.77c, up from 69.82c.
Final dividend has been increased from 30c to 40c, fully
franked, for shareholders registered on September 7.
This brings total payout for the year to 70c, up from 56c.
Revenue increased in all segments of the consolidated entity and
included increases in banking interest revenue from $1.7 billion to $1.9
billion and an increase in general insurance premium revenue from $2.2
billion to $2.4 billion.
Also, the consolidated entity benefited from strong investment
income performance, which increased revenue from ordinary activities by
$300 million.
Net profit increased strongly across all operating divisions.
The most significant increase was in the general insurance
division, which lifted its profit contribution before tax by $232
million due to good premium growth, favourable claims outcomes and
substantially higher investment income.
The group also benefited from a profit of $31 million before tax
on the sale of its 15 per cent interest in Cashcard Australia Ltd.

*****

"We achieved record profits for the company as a whole, record
results in each of our operating divisions and announced a record
dividend, so by any measure this is an outstanding financial
performance," said chairman Mr John Story.
"It was a year of consolidation where the organisational and
structural roles were comprehensively reviewed and detailed operational
improvements were introduced across the organisation," Mr Story said.
"The company, led by chief executive John Mulcahy, is now making
substantial headway in extracting cost savings and revenue enhancements
from operating each of the three business lines.
"This result, driven by the stellar performances of the general
insurance and banking divisions, demonstrates the significant progress
we have made on the diversified financial services strategy we outlined
in June last year.
"Suncorp is now emerging as a great Australian company," he
said.

*****

CEO Mr John Mulcahy said the company was optimistic about the
current year and was focused on "profitable growth, rather than growth
for growth's sake".
"In banking, while there has been a slowdown in home lending and
increased competition may lead to some deterioration in margins in the
industry, we will be focused on profitable growth and we do expect to
deliver a percentage increase in profit greater than single digits.
"In general insurance, we do not see any signs of irrational
pricing re-emerging in the classes of insurance we operate and we remain
confident that improvements we are making in our business will enable us
to win market share from our competitors, increase efficiency and lift
profitability.
"So while we previously had a stated insurance trading margin
range of 10 to 13 per cent, with this result we are increasing the
expected margin to 11 to 14 per cent.
"This assumes no unusual claims events.
"In wealth management, the recovery in equity markets has led to
significant improvement in profitability so assuming this equity market
is sustained, we should see some recovery in sales and we therefore
would expect to see double-digit improvement in underlying profit in
wealth management.
"At group level this should translate to further good
improvements in underlying profit in the current year," Mr Mulcahy said.
Shares in Suncorp-Metway rose 12c to $14.40 yesterday.