Results for Q1 2013 are propelling GRUPO SURA's growth within the region
MEDELLIN, Colombia, April 26, 2013 /PRNewswire/ -- GRUPO SURA has now released its results for Q1 2013, having obtained net profits of COP 287,259 million (USD 157 million), for a 61.2% growth compared to the same period last year.
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Subsidiary revenues posted via the equity method came to COP 131,341 million (USD 72 million) along with dividend income and accrued interest of COP 84,960 million (USD 46 million) received on the Company's portfolio investments.
The book value of GRUPO SURA's stock rose by 13.2% YoY to COP 36,391 (USD 19.86). The Company emphasized the fact that it had managed to reduce its debt by 40% for a debt ratio of 2.4% at the end of this first quarter, that is to say 90 bp lower than for year-end 2012. GRUPO SURA's assets came to COP 22.1 billion (USD 12.0 billion) showing a YoY growth of 5.6%.
"The results obtained for this past quarter, continue to show a dynamic level of performance on the part of our subsidiaries SURA Asset Management and Suramericana, which continue to consolidate their business and extend their presence in all those high potential sectors and countries within Latin America, as amply evidenced by the acquisitions announced recently" stated David Bojanini Garcia, Chief Executive Officer of GRUPO SURA.
Amongst the more salient events that took place during these first few months of the year, the Company pointed out the following:
- Its Integrated Annual Report for 2012 was issued a B+ rating by the firm Global Reporting Initiative (GRI). This is a tangible improvement over the C+ rating received last year. This report was audited by KPMG Advisory Services.
- SURA Asset Management and Scotiabank announced that they had signed an agreement with BBVA to purchase the latter's pension management firm, AFP Horizonte in Peru for an approximate value of USD 516 million. SURA Asset Management also announced the purchase of the life insurance firm, Primero Seguros Vida, in Mexico, with which it shall be complementing its current range of pension, savings and investment products, these forming its core business.
ABOUT GRUPO SURA
Grupo de Inversiones Suramericana - GRUPO SURA - is a Latin American company listed on the Colombian Stock Exchange and registered with the ADR-Level 1 program in the United States. It is also listed with the Latibex Market for Latin American Stocks in Euros hosted by the Madrid Stock Exchange. We are also one of the three companies from the Latin American financial service sector to be admitted to the Dow Jones Sustainability Index (DJSI).
Contact:
Monica Guarin Montoya
Gerente de Comunicaciones
Telephone: (574) 435 5935
Email: [email protected]
Luis Eduardo Martinez Florez
Relacion con Inversionistas
Telephone: (574) 435 5628
Email: [email protected]
SOURCE Grupo de Inversiones Suramericana - GRUPO SURA
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