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Preliminary group results for the year ended 31
December 2003
Summarised income statement |
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Twelve months ended 31 Dec |
Twelve
months ended 31 Dec |
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| Rand thousands |
Note
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2003 |
2002 |
GROSS PREMIUMS |
3 189 100 | 2 928 097 | |
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Underwriting profit/(loss) |
5 | 127 703 | (21 340) |
Investment income |
6 | 152 772 | 129 227 |
| Investment expenses | (3 346) | (3 572) | |
| 277 129 | 104 315 | ||
| Exceptional item | – | (14 000) | |
Net realised surplus on disposal of investments |
49 914 | 54 823 | |
PROFIT before tax |
327 043 | 145 138 | |
Taxation |
(81 968) | (20 673) | |
PROFIT after tax |
245 075 | 124 465 | |
| Minority and cell shareholders’ interest | (21 156) | (9 329) | |
| Net profit attributable to members of the Company | 223 919 | 115 136 | |
| Dividends paid | (36 539) | (85 257) | |
| RETAINED INCOME | 187 380 | 29 879 | |
HEADLINE EARNINGS PER SHARE (cents) |
2 | 1 475.5 | 627.6 |
| EARNINGS PER SHARE (cents) | 1 838.5 | 945.3 | |