CBL lifts annual net profit 83%, outperforms IPO profit forecast

Mon, 29 Feb 2016

By Sophie Boot Feb. 29 (BusinessDesk) - CBL Corp, the NZX-listed company that sells credit surety and financial risk insurance, outperformed its initial public offering profit forecast to lift annual net profit 83 percent in 2015. Net profit rose to $35.5 million in the 12 months ended Dec. 31, from $19.4 million a year earlier, the Auckland-based company said in a statement, on gross written premiums of $294.2 million, from $241.8 million a year earlier. The company outperformed its IPO forecast profit, in which it predicted reaching...

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