Australia's Westpac H2 profit falls 10.5 pct
Published: 03 Nov 2009 17:59:51 PSTSYDNEY, Nov 4 - Australia's Westpac Banking Corp <WBC.AX>, the nation's third-biggest lender, reported a 10.5 percent fall in second-half profit on Wednesday, at the top of analysts' forecasts.
Westpac posted a cash profit of A$2.332 billion ($2.11 billion) for the six months ended Sept 30 from a pro forma A$2.605 billion a year earlier.
The average forecast of eight analysts surveyed by Reuters was for A$2.24 billion, with the forecasts ranging from A$2.18 billion to A$2.31 billion.
The bank will pay a final dividend of 60 cents.
This is the first full year earnings to include the contribution of St.George Bank, the takeover of which was completed by Westpac in December.
Westpac shares have jumped 50 percent so far this year versus a 22 percent gain in the benchmark S&P/ASX 200 index <.AXJO>.
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