News Column

Jubilee's Half Year Profit Up

August 26, 2014

JUBILEE Insurance's first half pretax profit rose 35 per cent boosted by growth in business across its subsidiaries in East Africa. Pretax profit increased to Sh1.5 billion over the period compared to Sh1.12 billion last year.

Gross revenue jumped by 27 per cent to Sh15.1 billion from Sh11.9 billion recorded in the same period in 2013. The company said its insurance business in Tanzania grew by a whopping 96 per cent, Burundi 34 per cent, Jubilee Mauritius was up by 31 per cent while Jubilee Uganda recorded a 29 per cent growth.

Investment income jumped 12 per cent to Sh1.872 billion. Jubilee said its group profit after tax attributable to shareholders grew by 36 per cent to Sh1.08 billion from Sh793.8 million, while earnings per share rose to Sh18 from Sh13.30.

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Source: AllAfrica

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