Research (J&T BANKA)
World markets  |  February 21, 2013 09:08:00

Results for AXA in 2012 disappointed

Net profit for the second largest insurance last year fell by 0.9% y / y to EUR 4.15 billion, which is worse than the market expected (4,47 billion). The decline in profit is mainly due to extraordinary income from the sale of assets in the previous year. The result fell short of estimates at the level of sales (90.1 against 98.3 billion). The insurance company continues to expand primarily in markets in Asia and other fast-growing markets. Management proposes a dividend of 72 cents per share (exp. 73 cents).

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