Tuesday, Jan 30, 2007
BEIRUT (Zawya Dow Jones)--U.A.E.-based Al Dhafra Insurance Co. said its 2006 net profit fell 52.6% to 42 million U.A.E. dirhams ($11.4 million) from AED88.6 million in 2005.
In a statement on the Abu Dhabi Securities Market, the company said earnings per share declined 52.5% to AED0.56 from AED1.18 in 2005.
Al Dhafra Insurance, however, said its revenues rose 24.3% to AED187.9 million from AED151.2 million a year before.
Net operating profit surged 80.5% to AED19.5 million from AED10.8 million in 2005.
Total assets witnessed a 6.3% slowdown in 2006 at AED562.7 million compared with AED600.5 million a year earlier, it said.
Shareholders equity also decline 22.3% to AED272.8 million from 351.1 million in 2005.
-By Cynthia Darrous, Zawya Dow Jones, +961 1 985757, Cynthia@zawya.com
Copyright (c) 2007 ABQ Zawya Ltd.
(END) Dow Jones Newswires
30-01-07 1352GMT
