GREAT Eastern’s net profit for the first quarter more than doubled to S$342.7 million from S$152.9 million a year ago, on the back of higher valuation of its shareholders' fund investments resulting from favourable market conditions.
No interim dividend has been declared for the quarter, unchanged from a year ago. Shares of the company closed flat at S$25.95 on Thursday. Moving forward, the group said that its performance may be affected by volatility in global financial markets. Key indicators to watch in the long term are the direction of interest rates, equity prices and foreign exchange rates.
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