Riyadh – Mubasher: The Company for Cooperative Insurance (Tawuniya) posted a 9.7% year-on-year profit increase for the first quarter of 2019.
Net profits after zakat and tax stood at SAR 46.02 million in Q1-19, from SAR 41.92 million in Q1-18, according to the company’s filing to the Saudi Stock Exchange (Tadawul) on Sunday.
The improvement in operational results helped in boosting Tawuniya’s Q1-19 profits, the statement added.
Earnings per share (EPS) inched up to SAR 0.37 for the three-month period ended March, compared to SAR 0.34 in the same period of the prior year.
In 2018, Tawuniya reported a 45.6% year-on-year increase in net losses, recording SAR 213.34 million.
