CONSOLIDATED PROFIT AND LOSS ACCOUNT
For The Year Ended 31st December 2009
|
DEPARTMENTAL PROFITS |
2009 |
2008 |
|
. |
||
|
Accident & Liability |
55,083 |
71,334 |
|
Fire & General |
6,127 |
(12,568) |
|
Marine & Aviation |
17,047 |
17,494 |
|
Other Kind of Insurance |
19,822 |
24,926 |
|
|
98,079 |
101,186 |
|
. |
||
|
Other Income/(Loss) |
23,171 |
(23,166) |
|
. |
||
|
Other Expenses |
(20,525) |
(27,807) |
|
. |
||
|
NET PROFIT FOR THE PERIOD |
100,725 |
50,213 |
|
. |
||
|
Basic Earnings Per Share |
0.40 |
0.20 |
|
. |
||
|
US $ 1.00 = DH. 3.675 |
||
|
CONSOLIDATED BALANCE SHEET AS OF: |
||
|
CURRENT ASSETS |
31st Dec. 2009 |
31st Dec. 2008 |
|
|
||
|
Cash and Bank Deposits |
194,007 |
294,232 |
|
Insurance and other receivables |
464,573 |
444,391 |
|
Reinsurance Contract Assets |
413,110 |
563,823 |
|
Total Current Assets |
1,071,690 |
1,302,446 |
|
|
||
|
Non - CURRENT ASSETS |
||
|
|
||
|
Investment Property |
744,155 |
354,888 |
|
Properties under construction |
- |
256,490 |
|
Tangible Assets |
9,017 |
8,052 |
|
Investment in Securities |
110,655 |
116,132 |
|
Investment in Associate |
31,110 |
32,155 |
|
Total Non - Current Assets |
894,937 |
767,717 |
|
TOTAL ASSETS |
1,966,627 |
2,070,163 |
|
. |
||
|
CURRENT LIABILITIES |
||
|
Total Creditors |
459,366 |
526,669 |
|
Insurance Contract Liabilities |
598,533 |
737,972 |
|
Total Current Liabilities |
1,057,899 |
1,264,641 |
|
. |
||
|
NON-CURRENT LIABILITIES |
||
|
Long Term Loan |
192,267 |
144,971 |
|
Provision Employee's EOS indemnity & provident fund |
27,668 |
22,020 |
|
Retention Payable |
21,122 |
- |
|
Total Non-Current Liabilities |
241,057 |
166,991 |
|
. |
||
|
TOTAL LIABILITIES |
1,298,956 |
1,431,632 |
|
. |
||
|
SHARE HOLDERS’ EQUITY |
||
|
Share Capital |
250,000 |
250,000 |
|
Statutory Reserve |
85,094 |
75,021 |
|
General Reserve |
235,000 |
235,000 |
|
Change in Fair Value of Securities |
(6,461) |
(11,676) |
|
Proposed Dividend |
- |
- |
|
Retained Earnings |
104,038 |
90,186 |
|
. |
||
|
Shareholders’ Fund |
667,671 |
638,531 |
|
. |
||
|
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
1,966,627 |
2,070,163 |




