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The
Directors announce the Group results
for the year ended 31 December 2002. Summarised income statement |
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Note
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2002
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2001
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R'000
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R'000
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| GROSS WRITTEN PREMIUM |
2
928 097
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2
378 997
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| Underwriting loss |
(21
340)
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(8
682)
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| Investment income |
129
227
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156
207
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| Investment expenses |
(3
572)
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(6
753)
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104
315
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140
772
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| Exceptional item |
(14
000)
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–
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| Net realised surplus on disposal of | |||
| investments |
54
823
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114
761
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| Restructuring cost |
–
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(7
175)
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| Impairment of investment in Zimbabwe subsidiary |
–
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(10
000)
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| OPERATING INCOME before taxation |
145
138
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238
358
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| Taxation |
(20
673)
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(82
311)
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| NET INCOME after taxation |
124
465
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156
047
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| Outside shareholders' interest therein |
(9
329)
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(13
744)
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| Net income attributable to members of | |||
| the company |
115
136
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142
303
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| Dividends |
(85
257)
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(85
257)
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| RETAINED INCOME |
29
879
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57
046
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