CONSOLIDATED PROFIT AND LOSS ACCOUNT
For The Year Ended 31st December 2010
|
DEPARTMENTAL PROFITS |
2010 |
2009 |
|
. |
||
|
Accident & Liability |
43,576 |
55,083 |
|
Fire & General |
4,442 |
6,127 |
|
Marine & Aviation |
13,724 |
17,047 |
|
Other Kind of Insurance |
16,369 |
19,822 |
|
|
78,111 |
98,079 |
|
. |
||
|
Other Income/(Loss) |
(9,828) |
23,171 |
|
. |
||
|
Other Expenses |
(24,703) |
(20,525) |
|
. |
||
|
NET PROFIT FOR THE PERIOD |
43,580 |
100,725 |
|
. |
||
|
Basic Earnings Per Share |
0.17 |
0.40 |
|
. |
||
|
US $ 1.00 = DH. 3.675 |
||
|
CONSOLIDATED BALANCE SHEET AS OF: |
||
|
CURRENT ASSETS |
31st Dec. 2010 |
31st Dec. 2009 |
|
|
||
|
Cash and Bank Deposits |
196,929 |
194,007 |
|
Insurance and other receivables |
499,861 |
464,573 |
|
Reinsurance Contract Assets |
285,350 |
413,110 |
|
Total Current Assets |
982,140 |
1,071,690 |
|
|
||
|
Non - CURRENT ASSETS |
||
|
|
||
|
Investment Property |
438,943 |
458,943 |
|
Properties under construction |
458,878 |
285,212 |
|
Tangible Assets |
9,017 |
9,017 |
|
Investment in Securities |
90,534 |
110,655 |
|
Investment in Associate |
27,122 |
31,110 |
|
Total Non - Current Assets |
1,024,494 |
894,937 |
|
TOTAL ASSETS |
2,006,634 |
1,966,627 |
|
. |
||
|
CURRENT LIABILITIES |
||
|
Total Creditors |
601,945 |
459,366 |
|
Insurance Contract Liabilities |
451,547 |
598,533 |
|
Total Current Liabilities |
1,053,492 |
1,057,899 |
|
. |
||
|
NON-CURRENT LIABILITIES |
||
|
Long Term Loan |
260,906 |
192,267 |
|
Provision Employee's EOS indemnity & provident fund |
30,146 |
27,668 |
|
Retention Payable |
33,065 |
21,122 |
|
Total Non-Current Liabilities |
324,117 |
241,057 |
|
. |
||
|
TOTAL LIABILITIES |
1,377,609 |
1,298,956 |
|
. |
||
|
SHARE HOLDERS’ EQUITY |
||
|
Share Capital |
250,000 |
250,000 |
|
Statutory Reserve |
89,452 |
85,094 |
|
General Reserve |
235,000 |
235,000 |
|
Change in Fair Value of Securities |
(11,537) |
(6,461) |
|
Proposed Dividend |
- |
- |
|
Retained Earnings |
66,110 |
104,038 |
|
. |
||
|
Shareholders’ Fund |
629,025 |
667,671 |
|
. |
||
|
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
2,006,634 |
1,966,627 |




