Al Mohandes: Insurance Activity Surplus Fell 9% In FY 2011/12
Al Mohandes Insurance Company approved the budget for FY 2011/2012 ended on June 30th 2012. The insurance activity surplus retreated by 9.3%, registering EGP 23 million in the last fiscal year, compared to EGP 25.5 million in FY 2010/2011. The Company reported net profit of EGP 24.6 million in FY 2011/2012, compared to EGP 27.9 million in FY 2010/2011, with a decrease of 11.9%.
Basic earnings per share were down by 23.8%, registering EGP 1.88 in the last fiscal year, compared to EGP 2.47 in FY 2010/2011. The value of the Company’s assets dropped to EGP 1.028 billion from EGP 1.0556 billion with a decrease of 2.6%. The total liabilities registered EGP 845 million, down from EGP 872 million, with a 3.1% decline.
The shareholders equity fell by 0.22% to register EGP 182 million. The total reserves rose by 8%, registering EGP 82.4 million, compared to 76.2 million. The retained earnings dropped by 20.67%, registering EGP 6.4 million in FY 2011/2012, compared to EGP 8.1 million in FY 2010/2011.
The Company’s profit reached EGP 18.4 million in FY 2011/2012, down from EGP 23.3 million in FY 2010/2011, with a decrease of 20.7%.
The cash flows from operating activities retreated to EGP 25.3 million from EGP 59.9 million, with a retreat of 57.6%. The cash flows from investing activities rose by 79.3%. The Company’s paid-up capital reached EGP 75 million.
