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Monday, 19 November 2012 00:00
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UNIC Insurance, Nigerian Ropes, E-Transact post loses

UNIC Insurance Plc has recorded loss of N51.264 million in its audited results for the year ended December 31,2011 released by the Nigerian Stock Exchange (NSE), at the weekend.

The results showed that the company posted a loss after tax of N51.264 million in the period as against N1.025 billion in 2010.

Gross earnings however stood at N1.184 billion over  N1.710 billion in 2010, while net assets also  depreciated to N2.45 billion, as against N2.805 billion in 2010.

Similarly, Nigerian Ropes Plc unaudited nine months ended September 30, 2012, released to investors at the weekend showed a loss after tax of N75.902 million as against N8.095 million profit in the same period of 2011

 Gross sales in the period stood at N312.71 million, as against N351.09 million, in the corresponding period of 2011, while net assets also declined to N117.686 million compared to N192.905 million in the corresponding period in 2011.

E-Transact International Plc also recorded a loss of N137.105 million in its unaudited nine months ended September 30, 2012 financial results released on the NSE at the weekend.
The results revealed that loss in the period stood at N137.105 million as against N70.759 million in the same preiod in 2011.

Revenue in the period stood at N2.493 billion over N1.578 billion in the corresponding period in 2011,  while net assets rose to N2.649 billion over  N2.512 billion recorded in the same period in 2011.

Law Union and Rock Insurance Plc, unaudited nine months ended September 30, 2012, showed that  profit declined to N75.72 million as against N298.511 million in the same period in 2011.

 of  UNAUDITED NINE MONTHS RESULTS - SEPTEMBER, 2012- Gross premiums in the period also declined to  N2.99 billion as against N3.216 billion in the corresponding period in 2011, while  net assets stood at 12 N4.798 billion over  N4.791 billion.

Unity Kapital Assurance Plc's unadited nine months September 30, 2012 financial results showed a profit of N298.94 million as against N376.038 million in the same period in 2011.

Gross premiums earned in the period stood N1.66 billion, over N1.583 billion, in the corresponding period in 2011, while net assets stood at N9.307 billion as against N9.138 billion in the same period in 2011.

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