Continental Re 2017 Year End Financial Summary

-





12 Months Report CONTINENTAL RE INSURANCE PLC         
  2017
N'000		 2016
N'000		 change Year End
Revenue 29,673,215 25,406,048 17% December
Profit before taxation 3,570,285 4,651,687 -23%  
Profit for the period 2,470,291 3,118,635 -21%  
Issued Shares (Units) 10,372,744,314 10,372,744,314    
Basic Earnings Per Shares (Kobo) 27.00 28.00 -4%  
Last total dividend paid (Kobo) 14.00 14.00 0%  



2017 was not a bad year for the company in terms of revenue as it grew by 17%. However, profit before tax declined by 23% so was profit after tax which declined by 21%. A closer look at the result revealed that the company retrocessionaire expense increased by 362.41%. This significantly reduce the Risk profile of its reinsurance covers but at a cost. It was also noticed that forex gain declined considerable from last period. It declined by 71.54%. The two observations impacted the company performance negatively the reason the revenue was not translated to increased profit.

The Company declared a divided of 14k as it was last year. 



Comments

Post a Comment

Popular posts from this blog

Livestock Feeds Plc 2016 Financial Summary

-
Image
HISTORY Livestock Feeds was established in 1963 by Pfizer as a subsidiary to the pharmaceutical business which had been introduced to Nigeria few years earlier. Following importation of exotic milking cows and hybrid chickens into the country by Germans, Dutch and later Americans, the need to provide health and nutritional products led to creating Animal Health division and then the Feed division. The first mill of 5MT/hr was installed at Ikeja in 1963, followed by Aba 1964 and Kaduna in 1965 with 4MT and 3.5MT per hour capacity respectively. Accelerated growth in urban and sub-urban  population and demand for poultry meat and egg impacted positively on the feed business leading to phenomenal growth in Livestock Feeds business nationally. The impressive performance propelled upgrade of the milling output to 10MT/hr automatic machines at Ikeja, Aba and then Benin between 1983 and 1985. Kaduna was given a 6MT\hr back-up mill. The era of boom also witnes...
Read more

United Capital Plc Financial Year End 2016

-
Image
The second stock out of the block after Forte Oil Plc. This one provided more hope than the earlier one and for dividend hunters a return of  13.51% on its last traded price is encouraging. find below the snap shot of the final result of 2016: Principal Activites: UCAP is engaged in the business on investment banking and provides issuing house, corporate investment advisory services, project finance, debt restructuring, mergers and acquisitions, debt capital markets. Through its subsidiaries, it provides additional services such as trusteeship, asset management, and securities trading. Quarter on Quarter Performance: 2016 was a good year for UCAP in all ramification compare to the previous year. Year on year it performed better. However, our focus here is on the quarterly performance for 2016. It started with a Q1 in terms of revenue of =N=1.8 billion followed by =N=1.7 billion in Q2, 2.0 billion in Q3 and 3.3 billion in Q4.  ...
Read more

Studio Press Plc 2016 Financial Summary

-
Image
Major Shareholders Rommac Agencies Limited 52.64% Federated Resources Nigeria Ltd 27.35% 12 Months Report STUDIO PRESS PLC 2016 N'000 2015 N'000 change Year End Revenue 10,254,095 7,891,898 30% December Profit/Loss before taxation 470,447 165,584 384% Profit/Loss for the period 256,620 93,784 374% Issued Shares (Units) 594,885,713 594,885,713 Basic Earnings Per Shares (Kobo) 43.00 16.00 369% Last total dividend paid (Kobo) 0.00 0.00 #DIV/0! Quarter on Quarter performance Revenue                                                                   PAT N'000                               ...
Read more