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ING AUSTRALIA POSTS 50 PCT RISE IN YR NET PROFIT.
SYDNEY, March 1 Asia Pulse - ING Australia, the nation's fourth largest retail fund manager and life insurer, has booked a 50 per cent increase in net profit in 2003.
The ING Australia operation, which is 49 per cent owned by the Australia and New Zealand Banking Group Ltd (ASX:ANZ), had net profit of $A215.4 million ($US166.14 million) for the year to December 2003 with total expenses down 12.5 per cent to .5 million ($US304.28 million).
"It's a good result in what has been a challenging operating environment. Given that investment markets and investor sentiment are recovering we are now ...
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Source: HighBeam Research, ING AUSTRALIA POSTS 50 PCT RISE IN YR NET PROFIT.