Friday 21st November 2008
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Net profit rose to $40.5 million in the 12 months ended September 30, from $34.6 million a year earlier, the company said in a statement today.
Earnings from health and life insurance rose 25% to $28.5 million. The company raised its dividend to 8 cents from 6 cents.
"The positive result demonstrates that Tower's underlying strengths will serve it well in a slowing economy," managing director Rob Flannagan said.
The shares rose 0.7% to $1.44 and are down about 38% this year.
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