Earnings Report: The Universal Insurance Co. Ltd. (PSX: UVIC) today reported Financial Results for the Three and Six months ended June 30, 2017

MG News | August 30, 2017 at 11:43 AM GMT+05:00

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The Universal Insurance Co. Ltd. announced Financial Results for the period ended June 30, 2017.

The company’s Underwriting Results for the period declined substantially from the previous HY results by percent in the outgoing year, whereas the Profit after Taxation for the Period also declined by 25 percent.

The board did not recommend any Cash Dividend, no bonus or right shares.

Comparison of Key Financials

Unconsolidated Profit and Loss Account - For the Six Months Ended
Key Financials	Jan - June, 2017	Jan - Jun, 2016	% Change
	Amounts in PKR ‘000
Net Insurance Premium	6,597	20,075	-67.14%
Net Insurance Claims	4,936	7,811	-36.81%
Underwriting Results	(19,380)	(5,639)
Investment Income	3,948	10,579	-62.68%
Results of Operating Activities	2,314	7,986	-71.02%
Finance Cost	45	81	-44.44%
Profit before Taxation	13,422	17,217	-22.04%
Taxation	1,258	1,021	23.21%
PAT	12,164	16,196	-24.90%
Total Comprehensive Income for the Year	12,164	16,196	-24.90%
EPS	0.29	0.39	-25.64%

Company release on Earnings Report can be accessed here.

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