DNIR 2007 Q1 profit AED 7.8m +3.3% from 2006 Q1
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DNIR 2007 Q1 profit AED 7.8m +3.3% from 2006 Q1

 
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DNIR 2007 Q1 profit AED 7.8m +3.3% from 2006 Q1

Posted on Tue 15 May 2007 12:45 by sharewadi 		Reply with quote

2007 Q1 profit AED 7,753,000, EPS 0.08 (Annualised 0.32)*
2006 Q1 profit AED 7,506,000, EPS 0.08

*No share dividend so no share dilution. Possibly a cash dividend of 30% but I don't see a corresponding cashflow in the cashflow statement Confused .

There's a substantial amount of dividend income not included. Presumably it will be added as received, and/or in 2007 Q2 accounts. Note 5 to the accounts says:
Who wrote this:
Dividend Income of AED 5,264,312 has not been recognised even though right to receive payment has been established.


2007 forward PE = 2.85 / 0.32 = 8.9 - cheaper than market average of 12-14 but more expensive than several other insurance company stocks.

Gross Underwriting Income down substantially from 2006 Q1, but so was figure for Net Claims Paid, so Net Underwriting Income increased slightly. Gross Premium (or Revenue) up about 20%.

ESCA disclosure

DFM disclosure
Who wrote this:
15/05/2007 Un-audited interim financial statements for the period ended 31/03/2007 Discloses its DNIR:

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