Mapfre Middlesea p.l.c – Approval of half yearly financials as at 30 June 2017

The Mapfre Middlesea Group announced a profit before tax of €7.02 million, for the first six-months of 2017, a 23.8% increase over the same period last year. Income from insurance activities for the period under review amounted to €7.42 million, a rise of 28.8% over the €5.75 million for the six months ending 30 June 2016. EPS for the first six months increased in line with profitability from €0.024 in 2016, to €0.035 in 2017.

The Groups’ gross premiums increased by 8.0%, in the period under review. The growth in General Business turnover of 6.4% was derived from organic growth and Motor tariff increases. Life premiums written also saw a growth of 8.3%. In line with Company policy the Board of Directors do not propose to pay an interim dividend for the half year ended 30 June 2017.

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