Allied Cooperative Insurance Group announces its Interim Financial Results for the period ending on 2024-03-31 ( Three Months )

13 May 2024 08:00 AM

ACIG 8150 53.78% 18.30 6.40

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Insurance Revenues	231,419	226,615	2.119	244,104	-5.196
Result of Insurance Services	28,857	8,307	247.381	8,818	227.251
Net Profit (Loss) of The Insurance Results	22,250	2,657	737.41	3,859	476.574
Net Profit (Loss) of The Investment Results	10,525	8,103	29.89	11,675	-9.85
Net Insurance Financing Expenses	2,260	552	309.42	-2,004	-
Net Profit (Loss), After Zakat, Attributable To Shareholders	24,994	3,540	606.045	17,044	46.643
Total Comprehensive Income	24,994	3,540	606.045	19,034	31.312
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total Share Holders Equity (After Deducting the Minority Equity)	279,337	192,450	45.147
Profit (Loss) per Share	0.86	0.12
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Percentage of the capital (%)	Amount
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value	-	-
Accumulated Losses	16.84	49,004
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the revenues during the current quarter compared to the same quarter of last year is	The reason for the increase in revenues during the current quarter compared to the same quarter of the previous year is due to the increase in sales of general and medical insurance policies.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The reason for the increase in net profit during the current quarter compared to the same quarter of the previous year is due to the increase in net profit from insurance services results and net investment income.
The reason of the increase (decrease) in the revenues during the current quarter compared to the previous quarter is	The reason for the decrease in revenues during the current quarter compared to the previous quarter is due to a decrease in sales of Motor policies.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous quarter is	The reason for the increase in net profit during the current quarter compared to the previous quarter is due to the increase in net profits from insurance results and the increase in net insurance finance income.
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion)	NA
Statement of the type of external auditor's report	Unmodified conclusion
Reclassification of Comparison Items	Certain reclassifications were made in comparative numbers to conform to the current period. This reclassification had no effect on the reported results of operations.
Additional Information	Earnings per share has been calculated based on profit after zakat and tax.

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