Universal Insurance releases results.
May 21st, 2008 Ikechukwu Emelike © www.StockMarketNigeria.com
By Ikechukwu Emelike.
Universal Insurance plc has released its unaudited first quarter results for the period ended March 31, 2008 to the floor of the Nigerian Stock Exchange. The insurance company which was in the market to seek for funds some months ago showed an increase of 11.70 percent in its turnover for the three months period from N0.094 billion in the same period in 2007 to N0.105 billion in 2008.
Profit before tax grew from N0.033 billion in 2007 to N0.051 billion in 2008 indicating a growth of 54.55 percent. After tax profit for the company increased by only 21.43 percent from N0.028 billion recorded in the first quarter of 2007 to N0.034 billion in the first three months of 2008.
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