CONSOLIDATED PROFIT AND LOSS ACCOUNT
Fir the Year Ended 31st December 2007
|
DEPARTMENTAL PROFITS |
2007 |
2006 |
|
. |
||
|
Accident & Liability |
44,231 |
35,951 |
|
Fire & General |
614 |
2,671 |
|
Marine & Aviation |
14,837 |
12,303 |
|
Other Kind of Insurance |
17,214 |
13,604 |
|
|
76,896 |
64,529 |
|
. |
||
|
Other Income |
95,729 |
70,181 |
|
. |
||
|
Other Expenses |
(11,900) |
(14,692) |
|
. |
||
|
NET PROFIT FOR THE PERIOD |
160,725 |
120,018 |
|
. |
||
|
Retained Profit Brought Forward |
41,567 |
46,600 |
|
Total Profit Available For Distribution |
202,292 |
166,618 |
|
. |
||
|
Basic Earning Per Share |
0.64 |
0.48 |
|
. |
||
|
US $ 1.00 = DH. 3.675 |
||
|
CONSOLIDATED BALANCE SHEET |
||
|
NON - CURRENT ASSETS |
31st December. 2007 |
31st December 2006 |
|
|
||
|
Property and Equipment |
4,962 |
5,180 |
|
Properties under Construction |
145,686 |
90,550 |
|
Investment Property |
354,888 |
318,186 |
|
Available-for-Sale Investment |
193,212 |
215,782 |
|
Total Non- Current Assets |
698,748 |
629,698 |
|
|
||
|
CURRENT ASSETS |
||
|
|
||
|
Resinsurance Contract Assets |
265,263 |
226,850 |
|
Insurance and Other Receivables |
307,378 |
234,819 |
|
Bank balances and Cash |
256,623 |
160,796 |
|
Total Current Assets |
829,264 |
622,465 |
|
TOTAL ASSETS |
1,528,012 |
1,252,163 |
|
. |
||
|
CURRENT LIABILITIES |
||
|
Insurance Contract Liabilities |
405,762 |
320,816 |
|
Insurance and Other Payables |
167,995 |
144,550 |
|
Bank Borrowings |
104,239 |
92,749 |
|
Total Current Liabilities |
677,996 |
558,115 |
|
. |
||
|
NON-CURRENT LIABILITIES |
||
|
Provision for Employee's End of Service Indemnity and Provident Fund |
19,258 |
16,254 |
|
Long Term Loan |
93,849 |
68,115 |
|
Total Non-Current Liabilities |
113,107 |
84,369 |
|
. |
||
|
TOTAL LIABILITIES |
791,103 |
642,484 |
|
. |
||
|
SHARE HOLDERS’ EQUITY |
||
|
Share Capital |
250,000 |
225,000 |
|
Statutory Reserve |
70,000 |
49,502 |
|
General Reserve |
235,000 |
200,000 |
|
Proposed Dividend |
100,000 |
56,250 |
|
Proposed Bonus Shares |
- |
25,000 |
|
Board of Director's Remuneration |
1,800 |
1,800 |
|
Change in Fair Value of Securities |
35,115 |
10,560 |
|
Retained Earnings |
44,994 |
41,567 |
|
. |
||
|
Shareholders’ Fund |
736,909 |
609,679 |
|
. |
||
|
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
1,528,012 |
1,252,163 |
