Rising financial revenues push Colombia’s Grupo SURA to jump 30.3% in profits in the second quarter

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The Grupo Sura logo is seen at its headquarters in Medellin, Colombia February 27, 2018. REUTERS/Fredy Builes

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Aug 12 (Reuters) – Net profit at Grupo SURA, Colombia’s largest investment firm, rose 30.3% in the second quarter from a year earlier, boosted by higher financial revenues and lower of COVID claims, the company said in a statement Friday.

The company’s net profit for the three-month period soared to 557.6 billion pesos ($132 million).

Grupo SURA’s revenue for the quarter reached 7.5 trillion pesos, up 23.1% year-on-year, being the quarter with the highest revenue in the company’s history, according to the press release.

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The company said its net profit reflected an upward trend with its different lines of insurance and COVID claims declined

97% compared to the same period last year.

Grupo SURA operates in more than 10 countries through holdings in financial services, food, cement, energy and infrastructure, as well as investment companies.

($1 = 4,231.45 Colombian pesos)

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Report by Valentine Hilaire

Our standards: The Thomson Reuters Trust Principles.

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