Custodian & Allied Insurance Plc

[Oracle]

Originally Posted by cashrules

CUSTODYINS rewards investors with 8 kobo dividend in '11 Audited result.

Gross premium fell noticeably!!!


Why is this stock not trading at 50kobo? Why are they paying dividend when they need to be conserving cash. and they also borrowed money. mtchewww!!!!

[xplicitiyke]

CUSTODIAN & ALLIED INSURANCE PLC
May 4th, 2012
Unaudited Results (March, 2012, Q1)
Statement of Comprehensive Income
Gross Premium 31/03/2012 N3.547b 31/03/2011 N3.068b 31/12/2011 N10.061b Insurance Premium Revenue 12 N2.614b 11 N1.372b Audited 11 N9.354b Insurance Ceded to Reinsurer 12 (N996.314m) 11 (N371.989m) Audited 11 (5.328b) Net Income 12 N1.880b 11 N1.256b Audited 11 N5.366b Expenses 12 (N543.680m) 11 (N600.589m) Audited 11 (N2.439b) Finance Costs 12 (N62.142m) 11 (Nil) Audited 11 (N11.752m) Profit before Tax 12 N886.019m 11 N396.184m Audited 11 N1.512b Taxation 12 (N115.134m) 11 (N51.595m) Audited 11 (N112.286m) Profit after Tax 12 N770.885m 11 N344.589m Audited 11 N1.400b
Statement of Financial Position
Plant, Property & Equipment 31-03-12 N408.330m 31-12-11 N410.845m Investment in Properties 12 N1.440b 11 N1.440b Financial Assets 12 N6.114b 11 N1.937b Reinsurance Debtors 12 N115.929m 11 N115.929m Cash and Bank Balances 12 N6.036b 11 N9.661b Other Debit Balances 12 N5.596b 11 N4.390b Premium Receivables 12 N147.927m 11 N163.421m Insurance Funds 12 N4.366b 11 N3.751b Short Term Borrowings 12 Nil 11 Nil Other Credit Balances 12 N1.802b 11 N1.688b Net Assets 12 N13.153b 11 N12.381b
Corporate Actions
Proposed Dividend
Nil
Proposed Bonus
Qualification Date
Nil
Nil
Closure Date
Nil
AGM Date
Nil
Payment Date
Nil
AGM Venue
Nil
Notes