Dubai – Mubasher: Arabian Scandinavian Insurance Company (ASCANA) recorded a net profit attributable to shareholders worth AED 17.516 million over the period from January to September 2019, down from AED 25.815 million a year earlier.

Earnings per share (EPS) declined to AED 0.11 in the nine-month period of the same year from AED 0.16 a year earlier, according to a bourse filing on Wednesday.

During the third quarter of 2019, the firm’s profit came in AED 7.548 million, compared to AED 12.523 million in the same quarter in 2018.

The company’s EPS registered AED 0.05 in Q3-19 when compared to AED 0.08 in Q3-18.

Meanwhile, ASCANA's board of directors has appointed Khalid Ahmad Mohd Amin Al Kazim as an acting CEO as of 1 January 2020.