Law Union and Rock Plc., recently presented to the Nigerian Stock Exchange, its 3rd quarter financial summary to the market for the period ended 30th September 2008. The insurance sector listed company, involved in all aspects of insurance business made available both the reported period earnings summary as well as the balance sheet summary.

The summarized Trading Profit & Loss statement showed: (i) Turnover of N3.004 billion as against previous year comparable periods figure of N2.005 billion; (ii) Profit Before Taxation of N642.292 million as against previous comparable periods N324.330 million; (iii) Profit After Taxation of N513.000 million against previous N259.464 million; and (iv) a Retained Earnings of N385.375 million as against previous comparable periods posting of N194.598 million.
While, the Balance Sheet information includes: (i) Fixed Assets figure of N419.997 million as against previous comparable N323.393 million; (ii) Trade debtors of N2.387 billion as against previous year comparable periods N1.637 billion; (iii) Cash and Bank Balances of N89.260 million as against previous year comparable periods N81.667 million; (iv) Other Debit Balances of N3.735 billion as against previous year comparable periods N3.544 billion; (v) while the Net Assets figure for the reported quarter was N4.393 billion as against previous year comparable periods N3.821 billion.

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