DNIR 08Q2 profit Dh12m +26%

[sharewadi]

DNIR 2008 Q2 profit Dh12m +26%, H1 21m +18% 13 Aug 2008

Dubai National Insurance 2008 Q2 report
Dubai National Insurance 2008 H1 report

DFM 13 August 2008 (am):

(DNIR) Dubai National Insurance & Reinsurance: Discloses its reviewed interim condensed financial statements for the period ended 30/06/2008

Dubai National Insurance & Reinsurance (DNIR) profit figures for second quarter 2008 are (EPS annualised in brackets):

2008 Q2 profit = AED 12.3m +26.1% from 2007 Q2, EPS = 0.12 dhs (0.48 )
2007 Q2 profit = AED 9.77m, EPS = 0.10 dhs
2008 H1 profit = AED 20.6m +17.8% from 2007 H1, EPS = 0.21 dhs (0.41 )
2007 H1 profit = AED 17.5m, EPS = 0.18 dhs

EPS figures calculated from Net Profit / 100,000,000 shares outstanding.

DNIR share price as of close on 12 August 2008 was 4.00 dhs
2008 estimated PE is about 4.00 / 0.48 = 8.3, based on Q2 earnings
2008 PE estimate based on H1 earnings is 4.00 / 0.41 = 9.7, which is slightly higher, and although still cheaper than the market average of about 13, looks more expensive than the average for the non-Islamic insurance company sector.

Other result and related topics

2008Q2 UAE result list

DNIR 2008Q1 report - profit AED 8.3m 12 May 2008 (SW summary)
DNIR 2007FY profit AED 36.1m 04 Feb 2008
DNIR 2007 Q3 results not reviewed - see 07Q3 DFM results for updates
DNIR 2007 Q2 results not reviewed - see 07Q2 DFM results for updates
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