Arabian Shield reports net profit hike to SAR 15.8M in Q1 2024

09/05/2024 Argaam Exclusive
7

Arabian Shield Cooperative Insurance Co. reported a net profit surge to SAR 15.8 million in Q1 2024, from SAR 1.9 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Gross Written Premium (GWP) 459.02 616.45 34.3 %
Insurance Revenues 260.54 397.93 52.7 %
Net Profit Before Zakat & Tax 9.33 30.17 223.4 %
Net Income 4.35 24.48 462.3 %
Average Shares 66.04 79.82 20.9 %
Earnings Per Share before unusual items 0.07 0.31 365.3 %
EPS (Riyals) 0.07 0.31 365.3 %

This was spurred by higher insurance service results, increased insurance revenue, higher net investment income, in addition to an increase in insurance service expenses, as well as net expenses from reinsurance contracts.

 

The insurer also cited an increase in net insurance finance expenses and higher other operating expenses. Moreover, gross written premiums (GWPs) increased 34% annually.

 

On a quarterly basis, net earnings grew 3.1% from SAR 15.3 million in Q4 2023.

Insurance Operations

Item 3m 2023 3m 2024 Change‬
Gross Written Premium (GWP) 459.02 616.45 34.3 %
Insurance Revenues 260.54 397.93 52.7 %
Insurance Services Income (0.05) 9.22 18540.0 %
Investment Income 15.25 29.73 95.0 %
Net Profit of Insurance Services and Investment 15.08 36.65 143.0 %

Shareholders’ equity, no minority interest, reached SAR 1.56 billion by March 31, 2024, compared to SAR 1.19 billion in the prior-year period.

 

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Share Price

Arabian Shield Cooperative Insurance Co. (ARABIAN SHIELD)

Created with Highstock 6.0.710:2010:4011:0011:2011:4011:5012:1012:3012:5013:1013:3013:4013:5014:0014:2014:4014:5015:1017.1017.2017.3017.4017.5017.6017.7017.8017.9018.00
Close : 17.80 | Mar 27, 15:18

Current
Market Cap (M) 1,420.71
Shares Outstanding (M) 79.82
EPS ( Riyal) (TTM) 0.89
Book Value (BV) ( Riyal) 20.70
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 20.01
P/E (TTM) 20.01
Price/Book 0.86
Return on Average Assets (%) (TTM) 2.1
Return on Average Equity (%) (TTM) 4.4
Return on Market Cap (%) 4.6

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Comments 7

1
11
1019

FAISAL AS

منذ 2 سنه

رائع ارباح ممتازه وواضح ان الشركه تستفيدف من روزمانه الدوله الشامله لكل الاحداث

2
18
3791

ابو ريم 11

منذ 2 سنه

هذا دورها تبرز البربقندا بانواعها 

3
2
251

IKR

منذ 2 سنه

رغم ان الايرادات اقل من الربع السابق الا ان صافي الربح زاد بمعني اخر هوامش الربحية زادات، ارباح ممتازة

4
16
3142

متفائم

منذ 2 سنه

ما شاء الله اعلانات الطرق تشهد للايرادات، بالتوفيق

5
0
18

Billionaire

منذ 2 سنه

هل للشركة علاقة باعلانات كأس العالم ؟

6
18
926

Hamad2772

منذ 2 سنه
Replying to   Billionaire

نعم ولها النصيب الأكبر 

7
41
7331

هل هذه الشركة تمتلك قناة العربية الفضائية

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