01 February 2007
Bahrain-based Arab Insurance Group (Arig) recorded a net profit of $30.4 million last year compared to $48.2 million in 2005. Net profit for 2005 included $28.9 million from discontinued operations, being gains on sale of Arig holdings in CNIA Assurance (SA) and a share of profits from CNIA operations.
Preliminary results show total assets rising from $902,228 million in 2005 to $929,498 million in last year. Shareholder equity also climbed from $272,383 in two years ago to $293,395 in 2006. The net operating profit jumped from $19,338 in 2005 to $30,366 last year. Revenues were at a loss, slipping from $173,652 two years ago to $166,304 in 2006. The net profit for the period fell from $48,197 to $30,366 as did earnings per share from 22 US cents to 14 US cents.
Bahrain-based Arab Insurance Group (Arig) recorded a net profit of $30.4 million last year compared to $48.2 million in 2005. Net profit for 2005 included $28.9 million from discontinued operations, being gains on sale of Arig holdings in CNIA Assurance (SA) and a share of profits from CNIA operations.
Preliminary results show total assets rising from $902,228 million in 2005 to $929,498 million in last year. Shareholder equity also climbed from $272,383 in two years ago to $293,395 in 2006. The net operating profit jumped from $19,338 in 2005 to $30,366 last year. Revenues were at a loss, slipping from $173,652 two years ago to $166,304 in 2006. The net profit for the period fell from $48,197 to $30,366 as did earnings per share from 22 US cents to 14 US cents.
© Bahrain Tribune 2007
