August 15, 2018 / 4:04 PM / 7 months ago

Net profit at Colombia's Grupo SURA up 64.8 pct in Q2

BOGOTA, Aug 15 (Reuters) - Colombian investment holding company Grupo SURA said on Wednesday its net profit increased 64.8 percent in the second quarter compared with the same period a year ago to 381.7 billion pesos ($127.1 million), due to a decline in spending and taxes.

Despite the profit increase, revenue was down 4.3 percent between April and June to 4.86 trillion pesos, compared with the same period in 2017.

Total spending was down 7.6 percent at 4.33 trillion pesos and taxes fell 14.2 percent, the company said in a filing with the financial regulator.

The company has shares in Bancolombia SA, Grupo Argos SA, Grupo Nutresa SA and the pension fund Proteccion SA, among other investments.

In the first half of the year, net profit was up 8.6 percent to 692 billion pesos, compared with the same period in 2017. ($1 = $3,002.66 Colombian pesos) (Reporting by Nelson Bocanegra Writing by Julia Symmes Cobb Editing by Helen Murphy and Jonathan Oatis)

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