Riyadh – Mubasher: The Company for Cooperative Insurance (Tawuniya) posted a growth of 2% in net profits before Zakat during the second quarter of 2017, compared to the same period a year ago.
The net earnings before Zakat increased to SAR 248.76 million in Q2-17 from SAR 243.89 million in Q2-16, according to a bourse statement issued on Tuesday.
The growth in net profits is attributed to higher investment revenues in general, despite the 11.74% decline in Tawuniya’s operating activities.
During the first six months of 2017, Tawuniya posted an increase of 33.93% in profits to SAR 409.06 million from SAR 305.42 million in the same period a year ago, the statement added.
At the stock level, Tawuniya closed Tuesday’s session 1.1% lower at SAR 95.
