Condensed Income Statement
 |
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Audited at |
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December 31, |
||||
June 30, 2007 |
June 30, 2006 |
% Change |
2006 |
|
| Insurance premium revenue | 2,183,457 |
1,905,852 |
14.6% |
3,910,639 |
| Insurance premium ceded to reinsurers | 460,784 |
374,217 |
735,513 |
|
| Net insurance premium | 1,722,673 |
1,531,635 |
3,175,126 |
|
| Net insurance premium revenue | 1,707,879 |
1,495,576 |
14.2% |
3,115,547 |
| Reinsurance commission earned | 61,627 |
62,615 |
138,032 |
|
| Pension fund surplus | 6,126 |
– |
230,764 |
|
| Other income – fee income | 6,366 |
3,625 |
10,602 |
|
| Investment income | 100,463 |
95,197 |
202,224 |
|
| Net fair value loss on assets held at fair value through income | - 18,066 |
- 28,680 |
- 18,962 |
|
| Net realised gains on financial assets – available-for-sale | 35,489 |
68,425 |
71,334 |
|
| Income | 1,899,884 |
1,696,758 |
12.0% |
3,749,541 |
 |
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| Net insurance claims | 1,233,774 |
1,074,935 |
14.8% |
2,256,842 |
| Gross acquisition costs | 324,053 |
292,698 |
10.7% |
609,307 |
| Administrative and other operating expenses | 164,248 |
160,872 |
2.1% |
447,250 |
| Investment expenses | 1,778 |
2,250 |
3,594 |
|
| Expenses | 1,723,853 |
1,530,755 |
12.6% |
3,316,993 |
|
|
|
||
| Profit before tax | 176,031 |
166,003 |
6.0% |
432,548 |
| Income tax expense | 53,222 |
33,941 |
56.8% |
105,666 |
| Profit after tax | 122,809 |
132,062 |
- 7.0% |
326,882 |
| Minority interest | 123 |
1,498 |
6,302 |
|
| Net profit attributable to members of the Company | 122,686 |
130,564 |
- 6.0% |
320,580 |
