Riyadh – Mubasher: The net profits before Zakat of Aljazira Takaful Taawuni Company reached SAR 44.17 million in the first nine months (9M) of 2023, a surge of 51.03% compared to SAR 29.25 million in the same period last year.
The earnings per share (EPS) stood at SAR 0.63 as of 30 September 2023, up from SAR 0.42 in the same period of the previous year, according to the financial results.
The gross written premiums (GWP) rose by 6.29% to SAR 286.77 million in 9M-23, compared to SAR 269.79 million in 9M-22.
Income Statements for Q3-23
In the third quarter (Q3) of 2023, the company achieved SAR 17.26 million in net profit before Zakat, which signalled an increase of 68.89% year-on-year (YoY) from SAR 10.22 million.
The GWP amounted to SAR 126.01 million in Q3-23, a decrease of 3.59% YoY from SAR 130.71 million.
On a quarterly basis, the Q3-23 net profits dropped by 9.24% from SAR 19.01 million in Q2-23, while the GWP grew by 47.35% from SAR 85.51 million.
Earlier this year in Q1-23, the listed firm posted net profits worth SAR 7.90 million in addition to GWP of SAR 75.24 million.
Meanwhile, in the January-December 2022 period, Aljazira Takaful recorded a 37.90% rise in net profits before Zakat at SAR 30.28 million, compared to SAR 21.96 million in 2021.
