Browse related articles

LATEST:

SALAMA Q1 06 profits soar to AED 70 million

United Arab Emirates: Tuesday, May 16 - 2006 at 13:39
PRESS RELEASE

SALAMA, the world's largest Takaful and Re-Takaful company, has declared an eight per cent increase in actual net profits for the first quarter of 2006.

The figure rose from the provisional AED 65 million net profit (US $17.8 million), announced at the Annual General Meeting in April this year, to AED 70 million net profit. (US $19 million).

Return on equity was more than 25 per cent and earnings per share (EPS) for the first quarter of 2006 now stands at 7.1 fils, which is 28 fils on an annualised basis per share at the end of the first quarter.

The final figures were confirmed by auditing firm KPMG today, after consolidation of the company's accounts at the end of the quarter.

Sheikh Khaled bin Zayed bin Saqr Al Nehayan, Chairman of SALAMA Islamic Arab Insurance Company said: "SALAMA's first quarter financials for 2006 indicate an extremely positive performance from the Group.

"Our first quarter results have substantially exceeded the original IPO forecast, and this is a strong indication of SALAMA's success in the global Takaful and Re-Takaful markets. We foresee this robust growth to continue as we rapidly expand into new markets and products."

Also consider reading:

» Ford 2011 Mustang to have new engine

Aldar announces completion of Ferrari World Abu Dhabi external structure.

» Aldar announces completion of Ferrari World Abu...

» Emaar may scrap Burj Dubai towers project

» UAE Cost of Living Report: Salaries fall as crisis...

Capt. Rabadi (left) and Khamash (right).

» All-Jordanian female crew operates RJ flight

ADD ARTICLE TO
Digg
Facebook
LinkedIn
Twitter

Browse related articles

« Previous article Next article »

Related site: http://www.salama.ae

Notes and media contacts

For additional information, please contact:-

Kelly Smith, Account Director, MCS/Action Dubai
Tel: +971 4 369 3495 or mobile: 050 498 3085

Posted by Anne-Birte Stensgaard, Senior News Editor
Tuesday, May 16 - 2006 at 13:39 UAE local time (GMT+4)

Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.

This article was updated on Sat Aug 19 2006.

Disclaimer:

Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com

Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.

For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions

SALAMA Q1 06 profits soar to AED 70 million

SALAMA, the world's largest Takaful and Re-Takaful company, has declared an eight per cent increase in actual net profits for the first quarter of 2006.

Related stories

Also consider reading:

Notes and media contacts

Disclaimer:

Welcome Mac user!

News Releases

Special Reports »

Events Coverage »

Industry News

Video

Audio

Financial Markets

Country News

News and Comment

Business Services »

Country Guides »

Newsletter »

AMEinfo.com Jobs »

HUMAN RESOURCES MANAGER - LEBANON

COMMERCIAL FINANCE MANAGER

FINANCE ANALYST

White Papers Library »

Businesses for Sale »

News Alerts »

Business Directory »

Current Events Directory »

News »

Mobile

Follow AMEinfo.com