Jubilee General Insurance Company Ltd. profit falls 8.18% to Rs. 1.083 billion
MG News | February 13, 2018 at 01:54 PM GMT+05:00
JGICL today released financial results for year ending December 31st, 2017. The company reported an increase of 10.54% in Net Premium Revenue, whereas, net claims also surged by more than 20%.
Underwriting Result suffered a dip during the year clocking in at Rs. 408.689 million falling by more than 13% from last year’s tally.
JGICL releases show a dismal performance by the insurance giant during the year, as Rental, Net Investment Income and Return on Bank Deposits all suffered a fall during the year.
Despite an increase in profit from window Takaful Operations, the company’s bottom line profits shrank during the year. JGICL profits fell by 8.18% during the year with total clocking in at Rs. 1.083 billion, with earnings per share of Rs. 6.00.
The Board also approved a final cash dividend of Rs. 4.00/share i.e. at the rate of 40%.
| Unconsolidated Profit and Loss Account - For the Half Year Ended, December 30th 2017 | |||
|---|---|---|---|
| Key Financials | 2017 | 2016 | % Change |
| Amounts in PKR ‘000 | |||
| Net Premium Revenue | 4,610,717 | 4,170,928 | 10.54% |
| Net Claims | 2,450,107 | 2,030,292 | 20.68% |
| Expenses | 1,360,183 | 1,256,675 | 8.24% |
| Net Commission | 391,783 | 410,982 | -4.67% |
| Underwriting Results | 408,689 | 472,979 | -13.59% |
| Net Investing Income | 869,283 | 1,111,438 | -21.79% |
| Rental Income | 84,017 | 86,250 | -2.59% |
| Return on bank deposits | 88,338 | 118,017 | -25.15% |
| Other income - net | 4,975 | 1,103 | 351.04% |
| General and Administration Expenses | 65,246 | 76,064 | -14.22% |
| Share in profit from Associates | 165,592 | 123,945 | 33.60% |
| Profit before Tax from Window Takaful Operations | 60,109 | 16,187 | 271.34% |
| Profit before Taxation | 1,615,757 | 1,854,125 | -12.86% |
| Taxation - Net | 532,755 | 674,694 | -21.04% |
| Profit after Taxation | 1,083,002 | 1,179,431 | -8.18% |
| EPS - Basic and diluted | 6.00 | 6.54 | -8.26% |
Company release on Earnings Report can be accessed here.
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 165,811.01 486.66M | 9.32% 14137.55 |
| ALLSHR | 98,690.00 1,235.45M | 8.71% 7903.14 |
| KSE30 | 50,320.40 146.87M | 9.54% 4381.57 |
| KMI30 | 242,803.66 224.68M | 9.54% 21151.46 |
| KMIALLSHR | 64,829.00 586.54M | 8.72% 5197.88 |
| BKTi | 45,598.79 42.71M | 9.45% 3937.65 |
| OGTi | 35,047.53 26.88M | 9.68% 3093.42 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 71,420.00 | 73,080.00 70,055.00 | 2250.00 3.25% |
| BRENT CRUDE | 95.14 | 96.27 90.40 | -14.13 -12.93% |
| RICHARDS BAY COAL MONTHLY | 105.40 | 105.50 105.40 | -3.15 -2.90% |
| ROTTERDAM COAL MONTHLY | 107.70 | 108.15 107.50 | -5.10 -4.52% |
| USD RBD PALM OLEIN | 1,175.00 | 1,175.00 1,175.00 | 0.00 0.00% |
| CRUDE OIL - WTI | 95.73 | 109.19 91.05 | -17.22 -15.25% |
| SUGAR #11 WORLD | 14.36 | 14.51 14.19 | -0.22 -1.51% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|