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Dhafra Insurance FY14 profit falls 13%

Dhafra Insurance FY14 profit falls 13%
Photo Credit: Arabianeye-Reuters
Al Dhafra
DHAFRA
-8.12% 4.41 -0.39

 

Abu Dhabi – Mubasher: Dhafra Insurance announced its financials for the fiscal year ending December 31, 2014, in a bourse filing to the Abu Dhabi Securities Exchange (ADX).

Dhafra reported a net profit decline by 13.17% in FY14 to AED 42.38 million ($11.5 million) against AED 48.8 million ($13.3 million) in FY13.

Earnings per share (EPS) retreated to AED 0.42, down from AED 0.49 in corresponding period in 2013.

Operations profits fell slightly to AED 50.55 million against AED 50.63 million.

Worth noting, Dhafra had reported a net profit growth by 30.7% during the first nine months of 2014 compared to figures from the same period in 2013. Meanwhile, its net Q3-14 profits had leaped by 540% compared to Q3-13.

Dhafra Insurance maintains a capital of AED 100 million divided on 100 million shares at par value AED 1 per share.