One-off tax impact boosts Great Eastern's Q4 net profit to $341.3m

Uploaded By:  Alyssa Divina Submitted By:  Staff Reporter Case Study:  No FY2020 net profit fell 4% to $960.6m. Great Eastern saw their Q4 net profit jump 19% to $341.3m mainly due to a one-off positive tax impact from the finalisation of prior years’ tax assessment, a bourse filing read. FY2020 net profit fell 4% to $960.6m amidst a less favourable financial market condition for the year, particularly in Q1. Total new weighted sales jumped 23% to $1.54b for FY2020 whilst it surged 34% to $527.6m in Q4 driven by strong momentum in Singapore and Malaysia. read more