Standard Chartered FY profit up 19 pct UPDATE |
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Tue, 27 Feb 2007 09:57
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(Adds context, chairman quote)LONDON (AFX) - Standard Chartered PLC delivered a 19 pct increase in full-year profit, in line with market expectations, helped by strong economic growth in its key Asian markets.Standard Chartered, which is listed in London but generates over two thirds of its revenues in Asia, said pretax profit for the year to Dec 31 2006 came in at 3.178 bln usd, up from 2.681 bln usd the previous year.Analysts had expected profit of 3.168 bln usd, according to a consensus forecast supplied by the company.Standard Chartered said operating income rose 18 pct to 6.951 bln usd, just outpacing growth in expenses, which were up 17 pct at 3.733 bln usd.'We have achieved great momentum and will continue to benefit from the growth opportunities in Asia, Africa and the Middle East, and from our investment in the business,' Standard Chartered chairman Mervyn Davies said in a statement.The bank is paying a full-year dividend of 71.04 cents per share, up from 64 cents in 2005.Standard Chartered shares were down 46 pence at 1,463 by 8.25 am, in a market that was lower overall.newsdesk@afxnews.commn/slm/mn/jrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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