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Ping An Insurance posts 42.8% YOY rise in FY'17 net profit

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Ping An Insurance posts 42.8% YOY rise in FY'17 net profit

Ping An Insurance (Group) Co. of China Ltd. reported a 42.8% year-over-year increase in net profit for the 2017 full year.

The insurer posted full-year 2017 consolidated net profit attributable to shareholders of 89.09 billion yuan, up from 62.39 billion yuan in the prior-year period. EPS rose to 4.99 yuan from 3.49 yuan.

The S&P Capital IQ consensus estimate for full-year 2017 normalized EPS was 4.22 yuan for Hong Kong-listed shares, while the consensus GAAP EPS estimate for the year was 4.26 yuan.

As of March 19, US$1 was equivalent to 6.33 Chinese yuan.

More details to come.