2021 H1 Results: Royal Exchange half year profit slumps by 62% to N233.12 million.

Royal Exchange released its unaudited consolidated financial statements for the half year period ended June 30, 2021.

• Net premium income for the period was N3.66 billion. (-11% YoY)
• Fees and commission income of N307.2 million. (+13% YoY)
• Underwriting profit was N892.04 million. (-22% YoY)
• Total expenses of N1.11 billion. (+14% YoY)
• Profit after tax was N158.5 million. (-62% YoY)
• Loss per share of 1 kobo Vs 5 kobo YoY.
• Total shareholders’ fund for the period was N3.31 billion. (-10% YoY)

See link to results.