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FIVE-YEAR FINANCIAL SUMMARY
2007 2006 2005 2004 2003
N‘000 N‘000 N‘000 N‘000 N‘000
BALANCE SHEET:
Assets:
Current Assets 4,529,241 4,025,192 1,249,309 1,314,251 1,106,103
Loan to policy holders 6,358 5,191 5,016 4,275 3,651
Long term investments 1,800,316 2,007,813 1,954,196 1,732,968 738,512
Statutory Deposit 220,000 35,000 35,000 35,000 35,000
Deferred Acquisition Cost - 69,002 25,833 - -
Equipment on lease - - 23,993 88,768 156,257
Advances under finance lease 35,420 43,691 - - -
Fixed assets 1,123,461 1,199,166 474,400 449,975 405,173
-------------- -------------- ------------ ------------ ------------
Total assets 7,714,796 7,385,055 3,767,747 3,625,237 2,444,696
-------------- -------------- ------------ ------------ ------------
LIABILITIES:
Bank Loans and
Overdrafts 1,453,432 1,312,843 336,212 816,991 24,730
Creditors and accruals 799,353 586,463 1,018,404 563,872 372,812
Liability for administered credit 219,626 331,158 472,224 542,984 480,626
Outstanding claims 171,048 158,972 180,662 148,903 210,045
Insurance funds 106,570 215,939 366,121 315,798 368,993
Dividend payable 12,847 109,823 22,351 80,067 547
Information technology levy 3,081 - - - -
Taxation 63,047 80,026 64,972 34,324 22,504
Deferred taxation 58,684 52,968 25,611 25,611 19,109
-------------- ------------ ------------ ----------- -----------
2,887,687 2,848,192 2,486,557 2,528,550 1,499,366
======= ====== ====== ====== ======
SHAREHOLDERS’ FUNDS:
Share Capital 1,291,148 1,291,148 397,600 397,600 397,600
Share premium 878,055 878,055 11,207 111,207 11,207
Contingency reserve 443,317 382,273 328,885 278,610 236,939
Revenue reserve 713,976 444,175 324,525 196,312 93,087
General reserve fund - life 32,216 32,216 18,175 12,160 5,699
-------------- ------------ ------------ ----------- -----------
core capital 3,358,712 3,027,867 1,080,392 895,889 744,532
Investment properties
revaluation
reserve 386,362 386,362 - - -
Fixed asset revaluation reserve 1,082,034 1,122,634 200,798 200,798 200,798
----------- ---------- ---------- ---------- ----------
4,827,108 4,536,863 1,281,190 1,096,687 945,330
------------ ----------- ----------- ----------- -----------
Total liabilities 7,714,796 7,385,055 3,767,747 3,625,237 2,444,696
======= ======= ======= ======= =======
PROFIT AND LOSS ACCOUNTS:
Gross premium 1,920,733 1,872,345 1,350,733 1,259,241 1,200,133
------------ ----------- ----------- ----------- -----------
Underwriting results 117,045 127,099 (143,574) (6,008) 24,470
Net Investment Income 1,105,624 935,199 1,084,508 824,686 500,093
Operating expenses (752,064) (744,286) (629,557) (572,558) (263,856)
------------ ----------- ----------- ----------- -----------
Profit before taxation 470,605 318,012 311,.377 246,120 260,707
Information technology levy 3,081 - - - -
Taxation (37,046) (58,064) (20,165) (23,316) (12,492)
------------ ----------- ----------- ----------- -----------
Profit/(Loss)after taxation
before
extra-ordinary item 430,478 259,948 291,212 222,804 248,215
Extra-ordinary items (101,470) - - - -
Contingency reserve (59,207) (52,826) (48,650) (40,059) (27,057)
Dividend - - - (79,520) -
------------ ----------- ----------- ----------- -----------
Retained profit for the year
transferred to general reserve 269,801 207,122 242,562 103,225 221,158
====== ====== ====== ====== ======
PER SHARE DATA (KOBO):
Earnings
Basic 17 10 37 28 31
Dividend
Adjusted - 4 - 10 -
Net assets
Adjusted 187 175 - 138 119
NOTE:
Earnings per share are based on profit after tax
and the number of ordinary shares in issue at the end of each year. Net
assets per share is based on the number of ordinary shares in issue at the
end of each year.
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