VERITALS KAPITAL ASSURANCE declares 28% Revenue boost, Nets N65million H1 ’18

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According to the general (non-life) insurance company’s half year scorecard released to the market on 7thAugust, 2018, its gross sales for the first six months of 2018 rose by 28% to about N2.1billion when compared with N1.7billion recorded same period last year.

Veritals Kapital Assurance (formerly called Unity Kapital) however, reported a 73% decline in profit after tax from N244million to N65million in the corresponding period.

The company’s shareholders’ earnings per share dropped by 73% also to stand below 1kobo against 2kobo previously recorded same period last year.

Its PE Ratio is at 63.4x at a reference price of 30kobo with an earnings yield of 1.2%.

 

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