Suncorp sees Cashcard profit coup

Suncorp Metway expects to record a substantial pre-tax profit of up to $30 million in the half-year to June from the sale of its 15.4 per cent share in ATM company Cashcard Australia. Cashcard's shareholders approved a scheme of arrangement for the sale of the company to US-based First Data Corp this week. First Data Corp said increased economies of scale will allow improved payment processing services to financial institutions and merchants in Australia.