Staco Insurance plc yesterday released its results for the full year ended December 31 2007 to dealing members of the Nigerian Stock Exchange. Highlights of the results showed that its turnover for the period increased by 67 percent from N1.684 billion in 2006 to N2.814 billion in 2007. Profit before tax for the company appreciated by 58.68 percent from N0.547 billion in 2006 to N0.868 billion in 2007.Its profit before tax stood at N0.758 billion compared to N0.491 billion it recorded in 2006 indicating a growth of 54.38 percent.

The company has proposed to pay a dividend of 12 kobo to its shareholders, its closure date is 21st July 2008 and payment date is 4th August 2008.

Consolidated Hallmark Insurance Plc.

Turnover for the company’s full year results for the period ended December 31 2007 increased significantly by 196.46 percent from N0.508 billion in 2006 to N1.506 billion in 2007. Its profit before tax was also impressive as it moved from N0.087 billion recorded in 2006 to N0.237 billion in 2007 showing an increase of 172.41 percent.
Profit after tax before deferred tax stood at N0.028 billion as against N0.003 billion in 2006 indicating an appreciation of 1033.33 percent. It also showed a profit after tax and deferred tax of N0.23 billion in 2007 compared to N0.057 billion in 2006 signifying a growth of 303.51 percent.

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